Oxford Corporation began operations in 2015 and reported pretax financial income of 225,000 for the year. Oxfords
Question:
Oxford Corporation began operations in 2015 and reported pretax financial income of €225,000 for the year. Oxford’s tax depreciation exceeded its book depreciation by €40,000. Oxford’s tax rate for 2015 and years thereafter is 30%. In its December 31, 2015, statement of financial position, what amount of deferred tax liability should be reported?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Question Posted: