Business, 30.03.2020 20:22 haileestulley

Larsen Corporation reported $200,000 in revenues in its 2020 financial statements, of which $66,000 will NOT be included in the tax return until 2021. The enacted tax rate is 30% for 2020 and 25% for 2021. What amount should Larsen report for its deferred tax liability on its balance sheet at December 31, 2020

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Larsen Corporation reported $200,000 in revenues in its 2020 financial statements, of which $66,000...

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