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Question 3 The following is the abstract from Alpha's Statement of Financial position. Using the following this table, identify type of difference (taxable temporary,
Question 3 The following is the abstract from Alpha's Statement of Financial position. Using the following this table, identify type of difference (taxable temporary, deductible temporary, or permanent), and determine if the difference creates a DTA (differed tax assets) or a DTL (differed tax liability). Assets Depreciable equipment Research and Dividend receivable Liabilities Customer advance Warranty liability Officers' life development Accounts receivable Municipal bond 5.000 interest insurance Tax Base Note payable Interest paid 80,000 50.000 20.000 1.000.000 0 0 0 30.000 0 Carrying Value Type of Difference 90,000 0 18.500 5,000 1,000,000 10.000 5.000 0 30.000 0 Result
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458
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