Question
Relix, Inc., is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year before recording any
Relix, Inc., is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year before recording any net deferred tax asset or net deferred tax liability.
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The book-tax basis differences for the deferred asset and liabilities are listed below.
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Determine Relix's change in net deferred tax asset or net deferred tax liability for the current year, and provide the journal entry to record this amount. Assume a 21% Federal corporate tax rate and no valuation allowance.
Relix has an overall $ ................................................change in net deferred tax liability for the current year.?
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