Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. carla corporation began operations in 2020 and rep

Carla Corporation began operations in 2020 and reported pretax financial income of $237,000 for the...

90.2K

Verified Solution

Question

Accounting

Carla Corporation began operations in 2020 and reported pretax financial income of $237,000 for the year. Carla's tax depreciation exceeded its book depreciation by $44,000. Carla's tax rate for 2020 and years thereafter is 30%. In its December 31,2020, balance sheet, what amount of deferred tax liability should be reported?
Deferred tax liability to be reported $
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

On March 1, Warwick’s Co., a women’s clothing store, purchased$75,000 of merchandise from a...

Accounting
Q

Describe the process of involution of the uterus

Medical Sciences
Q

How does a behavioral health provider differ from a clinician or licensed counselor?

Psychology
Q

(8-3) [The following information applies to the questions displayed below.] In January 2017, Mitzu Co. pays $2,700,000 for...

Accounting
Q

I A 4 t s 0 1 Magnetic flux changes in a coil of resistance...

Physics
Q

The 4 9 m long ropes of a swing make an initial angle of 12...

Physics
Q

14. The figure shows two crates, each of mass m = 24 kg, that are...

Physics
Q

Rewrite the equation in a rotated x y system without an x y term Express...

Geometry
Q

Use graphical methods to solve the following linear programming problem Maximize z 3x y subject...

Basic Math
Q

2 A manager wants to determine if an employee training program has increased her employees...

Statistics
Q

Please help to answer

Accounting
Q

Explain the conditions under which ABC (Activity Based Costing) is likely to operate

Accounting