Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company has a temporary difference due to doubtf

A company has a temporary difference due to doubtful accounts (i.e., bad debt expense). For...

90.2K

Verified Solution

Question

Accounting

A company has a temporary difference due to doubtful accounts (i.e., bad debt expense). For fiscal year 2012, its Income Tax Payable was $10,000 less than its Income Tax Expense.

What happened to deferred taxes in 2012?

Deferred Tax Liabilities decreased by $10,000

Deferred Tax Assets increased by $10,000

Deferred Tax Liabilities increased by $10,000

Deferred Tax Assets decreased by $10,000

There was no effect on Deferred Tax Assets or Deferred Tax Liabilities

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

is it true or false; Any deletion mutation in the coding sequence of a proton will result in...

Biology
Q

Why is it critical to reconcile the bank statement on a timely basis each month?

Accounting
Q

1 Students will write a short summary about how early body plan is established in...

Biology
Q

Three point masses each of mass 2 kg are placed at the corners of an...

Physics
Q

Determine whether u and v are equivalent Explain Determine the magnitude and slope of each...

Geometry
Q

1 point Water is leaking out of an inverted conical tank at a rate of...

Basic Math
Q

arts The marketing division of the food website unleashes an aggressive campaig get Americans to...

Statistics
Q

4 Please write as a decimal 2 10

Calculus
Q

Can you help me find the general journal please! * the adjusted book balance is...

Accounting
Q

Difference between credit and debit in banking and as well as trade sector?

Accounting
Q

The following information for the year ended December 31, 2021, was reported by Nice Bite,...

Accounting
Q

plz i need ans. in 10 minutes. Techno Logic Company provides computer repairs and...

Accounting