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need help on this please? Pharoah Corporation began 2025 with a $41,400 balance in the Deferred Tax Liability account. At the end of 2025 ,
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Pharoah Corporation began 2025 with a $41,400 balance in the Deferred Tax Liability account. At the end of 2025 , the related cumulative temporary difference amounts to $315,000, and it will reverse evenly over the next 2 years. Pretax accounting income for 2025 is $472,500, the tax rate for all years is 20%, and taxable income for 2025 is $364,500. (a) Your answer is incorrect. Compute income taxes payable for 2025. Income taxes payable Step by Step Solution
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