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During 2025, Wildhorse Co.'s first year of operations, the company reports pretax financial income at $253,400. Wildhorse's enacted tax rate is 45% for 2025 and
During 2025, Wildhorse Co.'s first year of operations, the company reports pretax financial income at $253,400. Wildhorse's enacted tax rate is 45% for 2025 and 20% for all later years. Wildhorse expects to have taxable income in each of the next 5 years. The effects on future tax returns of temporary differences existing at December 31, 2025, are summarized as follows. Future taxable (deductible) amounts: Installment sales Depreciation Unearned rent 2026 $31.700 6.300 (54.200) 2027 $31,700 6,300 (54,200) Future Years 2028 $31,700 6.300 2029 $6.300 2030 $6.300 Total $95,100 31,500 (108,400) During 2025, Wildhorse Co's first year of operations, the company reports pretax financial income at $253,400. Widdhorse'senacted tax rate is 45% for 2025 and 20% for all later years. Wildhorse expects to have taxable income in each of the next 5 years. The effects on future tax returns of temporary differences existing at December 31,2025 , are summarized as follows. Complete the schedule below to compute deferred taxes at December 31, 2025. (Negotive amounts using either a negative sign preceding the number e.8. -45 or parentheseses. (45))
During 2025, Wildhorse Co.'s first year of operations, the company reports pretax financial income at $253,400. Wildhorse's enacted tax rate is 45% for 2025 and 20% for all later years. Wildhorse expects to have taxable income in each of the next 5 years. The effects on future tax returns of temporary differences existing at December 31, 2025, are summarized as follows. Future taxable (deductible) amounts: Installment sales Depreciation Unearned rent 2026 $31.700 6.300 (54.200) 2027 $31,700 6,300 (54,200) Future Years 2028 $31,700 6.300 2029 $6.300 2030 $6.300 Total $95,100 31,500 (108,400)
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