13) Tom-Kat Inc.'s income before taxes is $330,000 and its tax ra 30%. Tom-Kat included $30,000 of interest fro the $330,000. There are no other book-tax differences journal entry to record income tax expense? te is n municipal bonds in . What is the A) Income Tax Expense Income Tax Payable 90,000 90,000 B) Income Tax Expense Income Tax Payable 99,000 99,000 C) Income Tax Expense 108,000 Income Tax Payable 108,000 D) Income Tax Expense 9,000 Income Tax Payable 9,000 14)When a company depreciates a fixed asset at a faster rate for tax purposes than book purposes, this creates a A) deferred tax asset B) higher tax basis than book basis of assets in the early years C) deferred tax liability D) lower tax basis than book basis of liabilities in the early years 15) Piper, Inc. reported a net deferred tax asset balance of $188,100 resulting from an estimated warranty expense accrual for book purposes. The total book-tax difference related to the bases of the estimated warranty liability is $495,000. The enacted statutory tax rate related to this balance changed from 38% to 33%, effective immediately What journal entry will Piper need to make to adjust for this change in tax rates? 62,073 A) Deferred Tax Asset 62,073 Income Tax Payable