Solution-Does this give rise to deferred tax asset or

Does this give rise to deferred tax asset or liability

Reference no: EM132903861

Question - A company has prepaid rent with a carrying amount of $400,000. A tax deduction was obtained at the time the rent was paid.

A) Assuming that the tax rate is 30%, what is the amount of the temporary difference?

B) Does this give rise to deferred tax asset or deferred tax liability, and what is the amount of the deferred tax asset/liability?

Reference no: EM132903861

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Does this give rise to deferred tax asset or liability

Reference no: EM132903861

Reference no: EM132903861

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