Question: $ 5 5 7 0 0 0 . Blossom reported depreciation of $ 3 8 1 0 0 0 0 on its 2 0 2

$557000. Blossom reported depreciation of $3810000 on its 2025 income tax return. The difference in depreciation is the only temporary difference, and it will reverse equally over the next 3 years. Blossom's enacted income tax rates are 25% for 2025,20% for 2026, and 15% for 2027 and 2028. What amount should be reported as a deferred income tax liability in Blossom's December 31,2025 balance sheet?
$393400
$276450
$235000
$491750
 $557000. Blossom reported depreciation of $3810000 on its 2025 income tax

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!