Misty had reported a deferred tax asset of $25,000 and no valuation allowance at December...
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Accounting
Misty had reported a deferred tax asset of $ and no valuation allowance at December In its December balance sheet, Misty Co had income taxes payable of $ and a deferred tax asset of $ before determining the need for a valuation account. No estimated tax payments were made during At December Misty determined that it was more likely than not that of the deferred tax asset would NOT be realized. In its income statement, what amount should Misty report as total income tax expense?
$
$
$
$
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