Mazur Corp. follows IFRS and began operations in 2020 and reported accounting income of $275,000 for the

Question:

Mazur Corp. follows IFRS and began operations in 2020 and reported accounting income of $275,000 for the year. Mazur's CCA exceeded its book depreciation by $40,000. Mazur's tax rate for 2020 and years thereafter is 30%. In its December 31, 2020 statement of financial position (SFP), what amount of deferred tax liability should be reported?

Fantastic news! We've Found the answer you've been seeking!