Differences between pretax accounting income and taxable income were as follows during 2021 (5 ir eillions)...
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Differences between pretax accounting income and taxable income were as follows during 2021 (5 ir eillions) $ 440 (38) 482 Pretax accounting incone Permanent difference Tomporary difference (30) $ 372 Taxable incone The cumulative temporary difference as of the end of 2021 is $96 millon (alsa the future taxable amount). The enacted tax rate is 25%. What is the deferred tax asset or liability to be reported in the balance sheet? (Enter your onswer in millions (i.e., 10,000,000 should be entered as 10).) milion Differences between pretax accounting income and taxable income were as follows during 2021 (5 ir eillions) $ 440 (38) 482 Pretax accounting incone Permanent difference Tomporary difference (30) $ 372 Taxable incone The cumulative temporary difference as of the end of 2021 is $96 millon (alsa the future taxable amount). The enacted tax rate is 25%. What is the deferred tax asset or liability to be reported in the balance sheet? (Enter your onswer in millions (i.e., 10,000,000 should be entered as 10).) milion
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Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson, Wayne Thomas
Posted Date:
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