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At December 31, 2014, Suffolk Corporation had an estimated warranty liability of $127,630for accounting purposes and $0 for tax purposes. (The warranty costs are not
At December 31, 2014, Suffolk Corporation had an estimated warranty liability of $127,630for accounting purposes and $0 for tax purposes. (The warranty costs are not deductible until paid.) The effective tax rate is30%.
Compute the amount Suffolk should report as a deferred tax asset at December 31, 2014.
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Strategic Managerial Accounting: Hospitality, Tourism & Events Applications
Authors: Tracy Jones, Helen Atkinson, Angela Lorenz, Peter Harris
6th Edition
