A company has a deferred tax liability of $40,000 at the beginning of the fiscal year relating
Question:
A company has a deferred tax liability of $40,000 at the beginning of the fiscal year relating to a taxable temporary difference of $100,000. The tax rate for the year increased from 40% to 45%.
Required:
Provide the journal entry to reflect the tax rate change.
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The journal entry to reflect the tax rate change include adj...View the full answer
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