Using the information from BE15-2, assume this is the only difference between Murphys pretax financial income and

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Using the information from BE15-2, assume this is the only difference between Murphy’s pretax financial income and taxable income. Prepare the journal entry to record the income tax expense, deferred income taxes, and income tax payable, and show how the deferred tax liability will be classified on the December 31, 2008, balance sheet.

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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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