The following information is available for the first three years of operations for the Shooting Star Corporation:

€¢ On January 2, 2013, the firm acquired heavy equipment costing $ 200,000 in a cash transaction. The equipment had a useful life of five years and no scrap value. The firm used the straight- line method of depreciation for book purposes; see below for the tax depreciation taken each year:

€¢ On January 2, 2014, the firm collected $ 120,000 in advance for rental of a building for a three- year period. The firm reported the entire $ 120,000 as taxable income in 2014, but $ 80,000 of the advance collection was unearned at December 31, 2014. The $ 80,000 was earned evenly over the next two years ( i. e., 2015 and d 2016).
Required
a. Determine the balance of the deferred tax accounts at the end of 2015.
b. Repeat requirement (a) except now assume that a newly enacted tax law increased the corporate tax rate to 43%, effective the beginning of 2014.
c. Prepare the journal entries for 2013 and 2014 in requirement (b).
d. Prepare the journal entries for 2014 and 2015 in requirement (b) assuming that based on all available evidence it is more likely than not that half of the deferred tax asset will not be realized. Reverse out the allowance for the realized portion of the deferred tax asset in 2015.

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Yoar 2013 2014 2015 2016 Taxable Income (incorporates all information presented below) $200,000 132,000 110,000 120,000 EnactedTax Rate 40% 40% 40% 40%