Bluth, Inc. reported the following financial information: Taxable income for current year $200,000 Deferred tax liability, beginning of year 46,000 Deferred tax liability, end of year 57,000 Deferred tax asset, beginning of year 12,000 Deferred tax asset, end of year 18,000 Current and future years' tax rate 21% The current year's income tax expense is what amount?
Bluth, Inc. reported the following financial information: Taxable income for current year $200,000 Deferred tax liability, beginning of year 46,000 Deferred tax liability, end of year 57,000 Deferred tax asset, beginning of year 12,000 Deferred tax asset, end of year 18,000 Current and future years' tax rate 21% The current year's income tax expense is what amount?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter3: Taxes On The Financial Statements
Section: Chapter Questions
Problem 4BCRQ
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Question
Bluth, Inc. reported the following financial information:
Taxable income for current year |
$200,000 |
|
46,000 |
Deferred tax liability, end of year |
57,000 |
|
12,000 |
Deferred tax asset, end of year |
18,000 |
Current and future years' tax rate |
21% |
The current year's income tax expense is what amount?
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