Your firm has $90,000 in income before taxes and taxable income of $80,000 for 2023....
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Accounting
Your firm has $ in income before taxes and taxable income of $ for The difference between the two incomes is attributable to two items:
Accelerated depreciation on PP&E was $ for tax purposes but was $ for GAAP reporting purposes in
Your firm also recorded warranty expense under GAAP and as a tax deductible expense at different amounts in
There are no other differences between the two incomes. The firm's tax rate is
a By how much was the GAAP warranty expense larger than the tax warranty expense in
b By how much did the firm's deferred tax assets and liabilities change in Make sure to label the amounts as changes in deferred tax assets and liabilities, respectively.
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