Ab corp expensed on the financial stmt 2000000 for, Ask an Expert

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AB Corp expensed on the financial stmt $2,000,000 for depreciation expense during the year using straight line depreciation and deducted $3,000,000 of depreciation on the tax return. Also, corp. expensed $1,000,000 of warranty expense using an estimate of work to be done on current year''s sales but deducted on the tax return on $600,000. The corp. tax rate is 30%. What is the deferred tax asset or liability?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M9511119

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