At the end of its first year of operations, Hutton Corporation had a current liability of $300,000

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At the end of its first year of operations, Hutton Corporation had a current liability of $300,000 for unearned rent. This was the only difference between pretax accounting income and taxable income. Assume an income tax rate of 40%.

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Accounting Principles

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Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Posted Date: Jan 02, 2021 11:33 AM

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At the end of its first year of operations, Hutton Corporation had a current liability of $300,000

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