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answer
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watching
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28 Sep 2019
Price Corporation reported pretax book income of $600,000 in2015. Tax depreciation exceeded book depreciation by $100,000. Inaddition, the reserve for warranties increased by $40,000. Pricehad a net deferred tax liability of $34,000 at the beginning of theyear, representing a net taxable temporary difference of $100,000.During the year, the company's tax rate decreased from 34% to 30%.Compute the Company's current and deferred income tax expense orbenefit for 2015.
Price Corporation reported pretax book income of $600,000 in2015. Tax depreciation exceeded book depreciation by $100,000. Inaddition, the reserve for warranties increased by $40,000. Pricehad a net deferred tax liability of $34,000 at the beginning of theyear, representing a net taxable temporary difference of $100,000.During the year, the company's tax rate decreased from 34% to 30%.Compute the Company's current and deferred income tax expense orbenefit for 2015.
Keith LeannonLv2
28 Sep 2019
