Solution-What amount of deferred tax liability should be

What amount of deferred tax liability should be reported

Reference no: EM132719204

Problem - Bramble Corp. follows IFRS and began operations in 2020 and reported accounting income of $281,000 for the year. Bramble's CCA exceeded its book depreciation by $35,600. Bramble's tax rate for 2020 and years thereafter is 30%. In its December 31, 2020 statement of financial position (SFP), what amount of deferred tax liability should be reported?

Reference no: EM132719204

Questions Cloud

It diffusion models : Evaluate the approaches by company executives to align an organization for future growth and success. Give your opinion on the credibility of each approach.

List the health care funding methods used in Canada : List the health care funding methods used in Canada. State the health care funding method used in your jurisdiction and describe the payroll implication, if any

Which two major body systems help regulate acid-base balance : Which two major body systems help regulate acid-base balance in the body? Provide an example of how each of these systems accomplishes this task.

The number of times the current system : Consider the size of the college, the number of times the current system has been updated, the technologies available, and other similar factors.

What amount of deferred tax liability should be reported : In its December 31, 2020 statement of financial position (SFP), what amount of deferred tax liability should be reported

Explain what is the approximate cost per delivery : Frannie's Florist produces floral bouquets for commercial businesses (i.e. hotels) and uses an activity-based costing system. Data concerning overhead costs.

What are the types and classifications of antibiotics : What are the types and classifications of antibiotics, and their actions? What type of antibiotic should the nurse administer for this client and why?

Company privacy policy : You are asked to locate any company privacy policy. Some of the more popular ones might include GOOGLE, APPLE, or MICROSOFT,

Determine the ending inventory and the cost of goods sold : Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost)

User Account

All Pages

What amount of deferred tax liability should be reported

Reference no: EM132719204

Reference no: EM132719204

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

From the standpoint of the company as a whole should the

How many units of the new product must delphi sell

Find dollar value of Cost of Goods Sold for the month of May

Prepare the journal entries to record the interest payments

Calculate net miscellaneous deductions

Calculate margin of safety and the margin of safety ratio

Alpaca corporation had revenues of 300000 in its first year

Prepare the journal entries from Aug to June

Describe manufacturing - cash budget p-p

Discuss trends in the financial health

What should be the amount for noncurrent liabilities

Explain the role of ethics in the regulatory environment

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT