At year-end, Owl Co. estimates that it is more likely than not, a 55% expectation,...
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Accounting
At year-end, Owl Co. estimates that it is more likely than not, a 55% expectation, that $25,000 of a $200,000 Deferred Tax Asset account regarding a temporary depreciation method difference will not be realized. What are the financial statement effects of any entry Fox would make for this year-end adjustment?
Group of answer choices
A: D L: NE SE: D NI: D CFs: NE
A: NE L: NE SE: NE NI: NE CFs: NE
A: D L: NE SE: NE NI: D CFs: NE
A: D L: NE SE: D NI: D CFs: D
i:increase
D:Decrease
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