Question
RFH Co. Had $60,000 pre-tax income for 2022. They had a temporary difference of $8,000 due to book depreciation deduction of $60,000 and tax depreciation
RFH Co. Had $60,000 pre-tax income for 2022. They had a temporary difference of $8,000 due to book depreciation deduction of $60,000 and tax depreciation MACRS deduction of $68,000. Assume the tax rate is 30%.
Record the journal entry to record tax expense for 2022 and setting up the deferred tax liability?
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
