Oriole Corporation purchased equipment very late in $2023.$ Based on generous capital cost allowance rates provided in the Income

Tax Act, Oriole claimed CCA on its $2023$ tax return but did not record any depreciation because the equipment was being tested. This

temporary difference will reverse and cause taxable amounts of $$29,200$ in $2024,$$$39,300$ in $2025,$ and $$42,900$ in $2026.$ Oriole's

accounting income for $2023$ is $$240,800$ and $$202,800$ in each of $2024$ and $2025,$ and the tax rate for $2023,2024$ and $2025$ is $30\%.$

There are no deferred tax accounts at the beginning of $2023.$ Oriole Corporation was informed on December $31,2024$ that the

enacted rate for $2025$ and subsequent years is $25\%.$

$($a$)$

Your answer is correct.

Calculate the deferred tax balances at December $31,2024$ and $2025.$

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Attempts: $2$ of $5$ used

$($b$)$

Calculate taxable income and income tax payable for $2024$ and $2025.$