vanhoe Corporation reported $202000 in revenues in its 2021 financial statements, of which $68,000 will not be included in the tax return until 2022. The enacted tax rate is 30% for 2021 and 25% for 2022. What amount should Ivanhoe report for deferred income tax liability in its balance sheet at December 31, 2021? Group of answer choices (a)$50,500 (b)$17,000 (c)$20,400 (d)$60,600
vanhoe Corporation reported $202000 in revenues in its 2021 financial statements, of which $68,000 will not be included in the tax return until 2022. The enacted tax rate is 30% for 2021 and 25% for 2022. What amount should Ivanhoe report for deferred income tax liability in its balance sheet at December 31, 2021? Group of answer choices (a)$50,500 (b)$17,000 (c)$20,400 (d)$60,600
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 1MCQ: Ironwood Corporation has ordinary taxable income of $65,000 in 2019, and a short-term capital loss...
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Ivanhoe Corporation reported $202000 in revenues in its 2021 financial statements, of which $68,000 will not be included in the tax return until 2022. The enacted tax rate is 30% for 2021 and 25% for 2022. What amount should Ivanhoe report for deferred income tax liability in its balance sheet at December 31, 2021?
Group of answer choices
(a)$50,500
(b)$17,000
(c)$20,400
(d)$60,600
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