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What is related adjusting entry to show the tax rate change

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Question - On 1 April 2015, the company rate of income tax changed from 35 % to 30%. At the previous reporting date (30 June 2014) Monty Limited had the following tax balances.

Deferred tax assets $28300

Deferred tax liabilities$17200

What is the related adjusting entry to show the tax rate change on income tax expense?

Reference no: EM132453066

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