Question
the following information pertains to tempo co, a manufacturer of household appliances for year ended december 31, year 5. The noncurrent liabilities section of tempo
the following information pertains to tempo co, a manufacturer of household appliances for year ended december 31, year 5. The noncurrent liabilities section of tempo co's december 31 year 4 balance sheet include a deferred income tax liability of 15750 the only difference between tempo's taxable income and pretax accounting income is depreciation on a machine acquired on January 1 year for 250000. the machine estimated useful ife if 5 year , with no salvage value. depreciation is computed using the straight line method for financial reporting purposes and the macrs methos for tax purposes. depreciation expense for tax and financial reporting purposes for year 5 through year 8 is presented in the following table
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