Same information as the previous question

Determine the balance of taxes payable and deferred tax asset amounts for each three years given the following information.

What is the taxes payable balance as of December 31, 20X3?

20X2 20X3 Sales Expenses Bad debt expense Pre-tax income Tax expense Net income 20X1 900,000 747,000 22,500 130,500 39,150 91,350 1,008,000 836,600 25,200 146,200 43,860 102,340 1,129,000 937,100 28,225 163,675 49,103 114,572 30% 30% 30% Tax rate each year Accounts written-off during the year Collections of previously written off accounts Estimated tax payment 15,980 1,900 24,300 16,380 1,300 27,200 22,860 2,700 30,400 Multiple Choice 19.696 51,522 21,122 17,376