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Complete the following statements by filling in the blanks. a. In a period in which a taxable temporary difference reverses, the reversal will cause taxable
Complete the following statements by filling in the blanks. a. In a period in which a taxable temporary difference reverses, the reversal will cause taxable income to be p financial income. b. If a $38,100 balance in Deferred Tax Asset was computed by use of a 20% rate, the underlying cumulative temporary difference to $ c. Deferred taxes recorded to account for permanent differences. d. If a taxable temporary difference originates in 2025 , it will cause taxable income for 2025 to be pretax fina income for 2025. e. If total tax expense is $51,700 and deferred tax expense is $67,200, then the current portion of the expense computation is refe current tax of $ f. If a corporation's tax return shows taxable income of $96,300 for Year 2 and a tax rate of 20%, how much will appear on the December 31, Year 2, balance sheet for "Income taxes payable" if the company has made estimated tax payments of $17,700 fol $ g. An increase in the Deferred Tax Liability account on the balance sheet is recorded by a to the Income Tax Expens h. An income statement that reports current tax expense of $80,000 and deferred tax benefit of $22,000 will report total income of $ i. A valuation account is needed whenever it is judged to be that a portion of a deferred tax asset realized. j. If the tax return shows total taxes due for the period of $75,600 but the income statement shows total income tax expense of $. the difference of $18,500 is referred to as deferred tax
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