Question: Explain how to find the current period tax liability, amount of tax for book purposes, and the deferred tax amounts (tax rate is 21%) and

Explain how to find the current period tax liability, amount of tax for book purposes, and the deferred tax amounts (tax rate is 21%) and how to do the general ledger to record them

book income $1,000,000

additional accelerated deprecation $100,000

non cash warranty accrual $45,000

tax exempt municipal bond interest $9,000

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