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Business, 12.08.2020 04:01 jamilamiller200

At December 31, 2017, Larkspur Corporation had an estimated warranty liability of $124,000 for accounting purposes and $0 for tax purposes. (The warranty costs are not deductible until paid.) The effective tax rate is 30%. Compute the amount Larkspur should report as a deferred tax asset at December 31, 2017. Deferred tax asset at December 31, 2017

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At December 31, 2017, Larkspur Corporation had an estimated warranty liability of $124,000 for accou...
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