Differences between financial statement and taxable income were as follows:
$ in million
Pret...
Differences between financial statement and taxable income were as follows:
$ in million
Pretax accounting income $300
Permanent difference (24)
276
Temporary difference 18
Taxable income $258
The cumulative temporary difference as of the end of 2021 is $104 million (also the future taxable amount). The enacted tax rate is 25%. What is the deferred tax asset or liability to be reported in the balance sheet?
Answers: 3
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