Larsen corporation reported 100000 in revenues in its 2010, Ask an Expert

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Larsen Corporation reported $100,000 in revenues in its 2010 financial statements, of which $44,000 will not be included in the tax return until 2011. The enacted tax rate is 40% for 2010 and 35% for 2011. What amount should Larsen report for deferred income tax liability in its balance sheet at December 31, 2010?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9974309

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