2011-2013 30 2014 25. if the company expects taxable income, Ask an Expert

Accounting

Wright Co., organized on January 2, 2010, had pretax accounting income of $880000 and taxable income of $1600000 for the year ended December 31, 2010. the only temp. difference are warranty costs paid as follows:

2011 240k
2012 120k
2013 120k
2041 240k

Enacted income tax rates are as follows:

2010 35%; 2011-2013 30%; 2014 25%. If the company expects taxable income for future yrs, the deferred tax assets on the Dec 31, 2010 balance sheet would be (what amount)?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M973139

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