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Rosa's pretax accounting income in 2015 is $3,000. Rosa deducts depreclation for tax purposes in excess of accounting depreciation of $300 in 2014 and $700
Rosa's pretax accounting income in 2015 is $3,000. Rosa deducts depreclation for tax purposes in excess of accounting depreciation of $300 in 2014 and $700 in 2015. It is expected the depreciation deduction will reverse $500 in 2016 and $500 in 2017. The income tax rate is 40%. What is the amount in the deferred tax lability account at the end of 2015? $120 oK
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