Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. reported $200,000 depreciation on its 2015 tax ret

Reported $200,000 depreciation on its 2015 tax return; however, it reported $50,000 depreciation expense on...

80.2K

Verified Solution

Question

Accounting

Reported $200,000 depreciation on its 2015 tax return; however, it reported $50,000 depreciation expense on its 2015 income statement. The difference in depreciation is a temporary difference that will reverse over time. Assuming its tax rate is constant at 30%, what amount should be added to the deferred income tax liability in its Decemebr 31, 2015, balance sheet?

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

A dog food manufacturer is using a new process to make his dog food.  He believes the...

Mechanical Engineering
1.2K views

2) What does cooling mold temperatures accomplish?

Electrical Engineering
1.2K views

The heater element of a kettle has a constant resistance of 105ohm and apllied voltage of...

Statistics
1.2K views

You are interested in finding a 90% confidence interval for the average commute that non-residential students...

Geometry
1.2K views

In 5 6 Find the sine cosine and tangent ratios for ZB in each triangle...

Basic Math
1.2K views

Which one of the following is not a cost element in manufacturing a product 1...

Basic Math
1.2K views

George invests a sum of money into a savings account with a fixed annual interest...

Basic Math
1.2K views

Use trigonometric Identities to simplify the expression.1/cot(x)tan(-x)

Calculus
1.2K views

The vector u is shown below y 80 Find the component form of u X

Calculus
1.2K views

Jina is driving on a highway. She uses one gallon of gas every 20 miles...

Accounting
1.2K views

Needs to prepare all revenant budgets to determine net income for the first quarter of...

Accounting
1.2K views

Which one of the following is NOT a dysfunctional team role? Select one: a. Controlling...