Larsen report for deferred income tax liability


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: Larsen report for deferred income tax liability
Reference No:- TGS079319

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