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The first year of operations for Grayton Company is 2024. Given this information for 2024: Pretax book income. $900000. Estimated litigation expense $100000 Excess of
The first year of operations for Grayton Company is 2024. Given this information for 2024:
Pretax book income. $900000.
Estimated litigation expense $100000
Excess of taxer book deprecation $300000
Interest income on municipal bonds $200000.
No other permanent or temporary differences exist. The litigation item will be paid in 2027. The depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable
Indicate the proper deferred tax amount(s) to appear on the 12/31/24 balance sheet?
Pretax book income. $900000.
Estimated litigation expense $100000
Excess of taxer book deprecation $300000
Interest income on municipal bonds $200000.
No other permanent or temporary differences exist. The litigation item will be paid in 2027. The depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable
Indicate the proper deferred tax amount(s) to appear on the 12/31/24 balance sheet?
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
9th Edition
1337614689, 1337614688, 9781337668262, 978-1337614689
