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  3. you have the following section extracted from the

you have the following section extracted from the income statement of Stark company ...

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Question

Accounting

you have the following section extracted from the income statement of Stark company

Pretax income

?

Income tax expense

24,000

Current 20,000

Deferred ?

Assume that the tax rate for all years is 20%, and the company had only one temporary differnces and no Permenant differnces and in all previous years, taxable income and pretax income were the same, answer the followings:

  1. How much is pretax income?
  2. How much is taxable income?
  3. Is this differnces a DTA or a DTL?
  4. is this an originating or reversal?
  5. how much is the deferred tax portion?

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