Question
Naperville Inc. had current tax expense of $44,000 for the year ended December 31. The ending deferred tax asset balance was $36,000, which was an
Naperville Inc. had current tax expense of $44,000 for the year ended December 31. The ending deferred tax asset balance was $36,000, which was an $8,000 decrease from January 1. The tax rate is 25%.
What was total income tax expense for the current year?
- $52,000
- $44,000
- $36,000
- $46,000
Please show your work so i can see the process. Thank you
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Uniform Administrative Requirements Cost Principles And Audit Requirements For Federal Awards A Handbook For Institutions Of Higher Education And State And Local Governments
Authors: Andrew Shepard-Smith
1st Edition
1505298482, 978-1505298482
