Solution-What is the amount of deferred tax asset as of

What is the amount of deferred tax asset as of december

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Question - An entity accrued warranty expense of 300,000 in 2021. Warranty costs are tax-deductible only when paid. Warranty cost of 125,000 were paid on 2021. It is expected that the remaining accrued warranty costs will be paid as follows: 100,000 on 2022, 75,000 on 2023. The income tax rate in 2021 is 30% and a law was enacted to increase the tax rate for 2022 and forward at 35%. What is the amount of deferred tax asset as of December 31, 2021?

Reference no: EM133022308

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What is the amount of deferred tax asset as of december

Reference no: EM133022308

Reference no: EM133022308

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