Solution-Determine the amount of total income tax expense

Determine the amount of total income tax expense

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1. Roth Inc. has a deferred tax liability of $68,000 at the beginning of 2011. At the end of 2011, it reports accounts receivable on the books at $90,000 and the tax basis at zero (its only temporary difference). If the enacted tax rate is 34% for all periods, and income tax payable for the period is $230,000, determine the amount of total income tax expense to report for 2011.

Reference no: EM131108396

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Determine the amount of total income tax expense

Reference no: EM131108396

Reference no: EM131108396

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