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In Progress Complete the following statements, (a) (b) In a period in which a taxable temporary difference reverses, the reversal will cause taxable income to
In Progress Complete the following statements, (a) (b) In a period in which a taxable temporary difference reverses, the reversal will cause taxable income to be D greater than 3 In a period in which a deductible temporary difference reverses, the reversal will cause taxable income to be less than 4 (c) If a $60,300 balance in the Deferred Tax Asset account were calculated using a 25% rate, the underlying temporary difference (d) Deferred taxes are not recorded to account for permanent differences (e) If a taxable temporary difference originates in 2020, it causes taxable income of 2020 to be less than accounting inc (f) If total income tax expense is $49,300 and deferred tax expense is $65,600, then the current portion of the total income taxe (g) If a corporation's tax return shows taxable income of $82.700 for Year 2 and a tax rate of 25%, the amount that will appear on (h) An increase in the Deferred Tax Liability account on the SFP is recorded by a debit to the Deferred Tax Expense accou (i) An income statement that reports current tax expense of $63,800 and a deferred tax benefit of $20,600 will report total inco not that a portion of a deferred tax vio permanent differences. (e) If a taxable temporary difference originates in 2020, it causes taxable income of 2020 to be less than accounting inc (f) If total income tax expense is $49,300 and deferred tax expense is $65,600, then the current portion of the total income tax e g) If a corporation's tax return shows taxable income of $82,700 for Year 2 and a tax rate of 25%, the amount that will appear on h) An increase in the Deferred Tax Liability account on the SFP is recorded by a debit to the Deferred Tax Expense accou 5) An income statement that reports current tax expense of $63,800 and a deferred tax benefit of $20,600 will report total inco ) Under ASPE, a valuation account may be used whenever it is judged to be more likely than not that a portion of a deferred tax
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