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Journal entry to correct rowet companys deferred tax liabi

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Reference no: EM13552537

At the end of 2007, Rowet Company reported a deferred tax liability of $6,120 based on an income tax rate of 30%. On June 1, 2008 Congress changed the income tax rate to 35%.

Required

1. Calculate the amount of the adjustment to Rowet Company's 2007 year-end deferred tax liability.

2. Prepare the journal entry to correct Rowet Company's deferred tax liability.

Reference no: EM13552537

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