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Help Save & Exit Subm The pretax Accounting Income (Al) for Y corp. was $20 in the year 2021. Y's Taxable Income (T) was
Help Save & Exit Subm The pretax Accounting Income (Al) for Y corp. was $20 in the year 2021. Y's Taxable Income (T) was $25. The Future Deductible Amount at the end of 2021 was 10. The beginning balance of Deferred Tax Asset (DTA) in 2021 was 6. The tax rate is 40% Which of the following is correct in the journal entry of 2018? Multiple Choice Debit to Income Tax Expense (ITE) of $10 million Debit to Deferred Tax Asset (DTA) of $2 million Credit to Income Tax Payable (ITP) of $8 million Credit to Deferred Tax Asset (DTA) of $2 million.
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