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  3. prescott, inc. began 2020 with a dta of $50,000 as

Prescott, Inc. began 2020 with a DTA of $50,000 Assuming taxable income of $400,000 and...

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Question

Accounting

Prescott, Inc. began 2020 with a DTA of $50,000 Assuming taxable income of $400,000 and a tax rate of 30%, how much would Prescott record for Income Tax Payable for 2020?

Group of answer choices

$120,000

$0

$70,000

$50,000

Answer & Explanation Solved by verified expert
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