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Business, 25.03.2020 23:22 keyshawn437

BE19.11 (LO 2) At December 31, 2020, Fell Corporation had a deferred tax liability of $340,000, resulting from future taxable amounts of $2,000,000 and an enacted tax rate of 17%. In May 2021, a new income tax act is signed into law that raises the tax rate to 20% for 2021 and future years. Prepare the journal entry for Fell to adjust the deferred tax liability.

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BE19.11 (LO 2) At December 31, 2020, Fell Corporation had a deferred tax liability of $340,000, resu...
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