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At December 31, 2020, ABC Corporation had a deferred tax liability of $25,000. At December 31, 2021, the deferred tax liability is $42,000. The
At December 31, 2020, ABC Corporation had a deferred tax liability of $25,000. At December 31, 2021, the deferred tax liability is $42,000. The corporation's 2021 current tax expense is $48,000. What amount should ABC report as total 2021 income tax expense?
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald W. Hilton
9th edition
78110912, 978-0078110917
