Question in 2015 tetra corp generated 583000 in revenues, Ask an Expert

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Question: In 2015 tetra Corp. generated $583,000 in revenues and incurs $276,000 in expenses. There an- no permanent or temporary book-tax differences. Tetra has a deferred tax asset of $61,250 related to a net operating loss of $175,000 from the previous year. Assuming a 35% tax rate, prepare the tax related journal entry for the current year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92713197

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