Question
Greene Company Greene Co. has pretax book income for the year ended December 31, 2015 in the amount of $295,000 and has a tax rate
Greene Company Greene Co. has pretax book income for the year ended December 31, 2015 in the amount of $295,000 and has a tax rate of 20%. Depreciation for tax purposes exceeded book depreciation by $17,500.
What should Greene Co. record as it deferred tax liability for 2018?
A. $0
B. $59,000
C. $55,500
D. $3,500
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Accounting For Managers Interpreting Accounting Information For Decision Making
Authors: Paul M. Collier
3rd Edition
0470777648, 9780470777640
