Superstar Appliances recognized $45.000 for financial accounting in taxable at $15,000 each year for the years. income each year and the tax rate is 40%. 2005. This $45,000 will be next three years. The company earns $10,000 additional Required (1) Determine whether there is a deferred tax asset or deferred tax liability. (2) Calculate the deferred tax asset/liability for 2005. (3) Show the general journal entry for year 2005. (4) Show the general journal entry for years 2006, 2007, and 2008