What amount should greta record as the deferred tax asset

Reference no: EM133654156

Question: Greta Corp. reported the following results for calendar Y3, its first year of operations: Pre-tax accounting income $250,000 Taxable income 400,000 The difference between accounting income and taxable income is due to a temporary difference, which will reverse in Y4. Assuming that the enacted tax rates in effect are 30% in Y3 and 25% in Y4, what amount should Greta record as the deferred tax asset or liability for calendar Y3?

Reference no: EM133654156

Questions Cloud

Was it legal and ethical for you to make the stock purchase : As result, bought outstanding shares of customer's stock in anticipation of it winning its lawsuit. Was it legal and ethical for you to make this stock purchase

Write checks or initiate efts : Write checks or initiate EFTs. The company saves money by having employees involved in operations perform the only review of internal controls

How does fluid get pulled back into the lymph vessels : How does fluid get pulled back into the lymph vessels? What are the steps to immune response in the lymphatic system?

Lecture commodity or human right : In the lecture Commodity or Human Right?, pollution in Goa, a coastal state on the Arabian Sea in India was discussed.

What amount should greta record as the deferred tax asset : Assuming that the enacted tax rates in effect are 30% in Y3 and 25% in Y4, what amount should Greta record as the deferred tax asset or liability for calendar

Identify the causes of the specific types of anemia : Identify the causes of the specific types of anemia - deficiency, hemolytic, and aplastic.

Which report lists the items on backorder from suppliers : Below is a list of some of those reports. Which report lists the items on backorder from suppliers and vendors

Which form should filed with court to commence the probate : Which form should be filed with the court to commence the probate? Why? Can the estate be administered informally or should it be formal? Explain.

Describe one of surgical approaches used in spinal surgery : Using your textbook and the Internet as resources, describe one of the surgical approaches used in spinal surgery.

User Account

All Pages