Question
Manu Company started 2016 with a deferred tax liability of $6,365 As of the end of the period, Manu identifies future taxable amounts of $18,785.
Manu Company started 2016 with a deferred tax liability of $6,365 As of the end of the period, Manu identifies future taxable amounts of $18,785. Manu has a tax rate of 38%, and calculates that taxes payable will be $8,284. Manus debit to income tax expense will be $________
Bodie Sports started 2016 having recognized $323,900 more depreciation for tax purposes than for accounting purposes since the company began. It ended 2016 having recognized $172,200 more depreciation for tax purposes than for accounting purposes since the company began. Assume a tax rate of 36%. With respect to depreciation, Bodies deferred tax liability on December 31, 2016 would be $_______________
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