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08.04.2020 •
Business
Weaver Company had a net deferred tax liability of $34,000 at the beginning of the year, representing a net taxable temporary difference of $100,000 (taxed at 34 percent). During the year, Weaver reported pretax book income of $400,000. Included in the computation were unfavorable temporary differences of $50,000 and favorable temporary differences of $20,000. At the beginning of the year, Congress reduced the corporate tax rate to 21 percent. Weaver's deferred income tax expense or benefit for the current year would be:
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Ответ:
Net deferred tax benefit of $19,300
Explanation:
The net deferred tax benefit for the current year is $6,300 [($50,000 − $20,000) × 21%]. The beginning balance in the deferred tax liability account must be adjusted downward to reflect the change in the tax rate by 13 percentage points ($100,000 × 13% = $13,000 reduction in the deferred tax liability). The net adjustment is a net deferred tax benefit of $19,300.
Ответ:
Deferred Tax Expense=6300
Less: Tax Adjustment=-13000
Net Deferred Tax Benefit=6700
Deferred Tax Expense=(50000-20000)*21% = $6300
Tax Adjustment=100000*(34%-21%)= $13000
Ответ:
2
Step-by-step explanation: