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Use the information below to answer the following two items Fisher Co. had the following taxable income (loss) and tax rate information. 2018 2019 155,000

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Use the information below to answer the following two items Fisher Co. had the following taxable income (loss) and tax rate information. 2018 2019 155,000 35% (210,000) 40% 300,000 40% 2020 First Question: What entry will it record at the end of 2019? Select one: O a. Debit deferred tax asset $84,000, credit income tax payable $84,000. O b. Debit deferred tax asset $210,000, credit income tax expense $210,000. O c. Debit deferred tax asset $84,000, credit income tax expense $84,000. O d. Debit deferred tax asset $210,000, credit income tax payable $210,000. Clear my choice Second Question: The entry recorded at the end of 2020 will credit Income Tax Payable for? Select one: O a. $36.000 b. $300,000 O c. $90,000 O d. $120,000 Clear my choice At the end of 2019, Florida Co. had a deferred tax asset of $10,000 and a deferred tax liability of $7,000. Which of the following amounts should be reported on Florida Co.'s balance sheet on December 31st, 2019 related to its income taxes? Select one: O a. A current asset of $3,000. b. A current asset of $10,000 and a current liability of $7,000. O c. A non-current asset of $10,000 and a non-current liability of $7,000. O d. A non-current asset of $3,000

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