Question
The following information was taken from the accounting records of Lancer Inc, for the year ending 2020. Pretax accounting income $ 1,500,000 Interest Revenue on
The following information was taken from the accounting records of Lancer Inc, for the year ending 2020.
Pretax accounting income $ 1,500,000
Interest Revenue on Municipal bonds 100,000
Litigation expense 2, 000,000
Excess Depreciation for tax purposes 1, 300,000
Deferred revenue 200,000
The tax rate for 2020 is 40%
The total Deferred Tax Asset for 2020 should be :
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Artificial Intelligence In Accounting And Auditing Knowledge Representation Accounting Applications And The Future Volume 3
Authors: Miklos A. Vasarhelyi
1st Edition
1558760784, 978-1558760783
