Question
Greene Company Greene Co. has pretax book income for the year ended December 31, 2015 in the amount of $295,000 and has a tax rate
Greene Company Greene Co. has pretax book income for the year ended December 31, 2015 in the amount of $295,000 and has a tax rate of 30%. The following timing difference was present: Depreciation for tax purposes in excess of book depreciation minus $14,500. What should Greene Co. record as its deferred tax liability for 2015?
A $88,500
B.$0
C. $84,150
D. $4,350
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D 4350 Deferred tax liability concept accounts for the tax effec...
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Financial Accounting: A Business Process Approach
Authors: Jane L. Reimers
3rd edition
978-013611539, 136115276, 013611539X, 978-0136115274
