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please explain why it is DTL or DLA 1. ACE Company had pretax GAAP income of $50,000 for the tax year ended December 31 .
please explain why it is DTL or DLA
1. ACE Company had pretax GAAP income of $50,000 for the tax year ended December 31 . Label each of the following items as either Deferred Tax Liabilities (DTL) or Deferred Tax Assets (DTA) 1. Excess accelerated depreciation for tax purposes, $5,000 2. Unrealized holding gain on securities accounted for under FV-NI, $2,000 3. Unrealized holding loss on securities accounted for under FV-NI, \$2,000 4. Rental receipts received in advance, $30,000 5. Litigation contingency accrual, $10,000 6. Six-month prepaid rent deposit, $12,000 540.000=8 Step by Step Solution
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