Question: show your work Question 13 (5 points) AZY, Inc. has a deferred tax asset account with a balance of $100,000 at the end of 2015

show your work

show your work Question 13 (5 points) AZY, Inc. has a deferred

Question 13 (5 points) AZY, Inc. has a deferred tax asset account with a balance of $100,000 at the end of 2015 due to one cumulative temporary difference of $265,000. At the end of 2016, this same temporary difference has increased to a cumulative amount of $355,000. Taxable income for 2016 is $930,000. The tax rate for all years is 30%. There was no valuation account related to the deferred tax asset at the end of 2015. Prepare the journal entry to record income tax expense for 2016, assuming that it is more likely than not that the deferred tax asset will be realized in full: Prepare the journal entry to record income tax expense for 2016, assuming that it is more likely than not that none of the deferred tax asset will be realized: Paragraph B I U . . . A (> EQ 5 /

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