During 2021 a company reported an increase in the deferred tax liability account of $77,990, an increase in the deferred tax asset account of $35,325 and an income tax liability of $398,555. What is the income tax expense to be reported in the income statement for the year ending December 31, 2021?
During 2021 a company reported an increase in the deferred tax liability account of $77,990, an increase in the deferred tax asset account of $35,325 and an income tax liability of $398,555. What is the income tax expense to be reported in the income statement for the year ending December 31, 2021?
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 23P
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During 2021 a company reported an increase in the
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