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During its first year of operation a company recorded revenue totalling $ 6,000,000 for book purposes. for tax purposes, $ 2,400,000 of the revenue is taxable during the first year of operation and $ 3,600,000 of the revenue is taxable during the second year of operation. The income tax rates for both years are 40%. What would be the deferred tax liability reported on the balance sheet at the end of the first year?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91959007

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