At December 31, 2010, Ambuir Corporation had a future tax liability of $35,000. At December 31, 2011,

Question:

At December 31, 2010, Ambuir had a future tax liability of $35,000. At December 31, 2011, the future tax liability is $52,000. The corporation's 2011 current tax expense is $53,000. What amount should Ambuir report as total 2011 income tax expense?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...