Suppose a tax reform bill is enacted that causes the corporate tax rate to change from 34%

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Suppose a tax reform bill is enacted that causes the corporate tax rate to change from 34% to 36%. How would this affect an existing deferred tax liability? How would the change be reflected in income?

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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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Question Posted: Jul 05, 2013 07:16 AM

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Suppose a tax reform bill is enacted that causes the corporate tax rate to change from 34%

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When a change in a tax law or rate occurs a deferred tax liability o...View the full answer

Intermediate Accounting

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