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E connec Ch. 16 Test Question 2 2 0.00 points MC Qu. 71 LO 16-05 The financial reporting carrying value of Boze Music's only depr..

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E connec Ch. 16 Test Question 2 2 0.00 points MC Qu. 71 LO 16-05 The financial reporting carrying value of Boze Music's only depr.. e financial reporting carrying value of Boze Music's only depreciable asset exceeded its tax basis by $147,000 at December 31, 206 T fnancial reporting purposes and MACRS for tax purposes. The asset was scquired earlier in the year. Boze has n other temporary dmerences The enacted tax rate is 26% for 2016 and 36% thereafter. Boze should report the deferred tax effect of this dterence in ts December 3t, 2016, balance sheet as nis was a result of differences between straight line depreciation for O A liability of $52,920 O An asset of $52.920 O A lability of $51,580 O An asset of $51,580 Multiple Choice ?? 020: 71101626 rhe TOSHIBA esc 2 3 4 5 tab

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