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What is impact of the tax rate change on income tax expense

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Reference no: EM132637139

On 1 April 20X1, the company rate of income tax changed from 35% to 30%. At the previous reporting date (30]une ZOXO) Monty Limited had the following tax balances:

deferred tax assets  $20,250

deferred tax liabilities $15,000

Problem 1: What is the impact of the tax rate change on income tax expense?

Select one:

a. Decrease $750

b. Increase $875

c. Decrease $875

d. Increase $750

Reference no: EM132637139

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