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What is the tax effect adjustment

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Reference no: EM132849738

Question - B Limited had the following deferred tax balances at reporting date:

Deferred tax assets $10,000

Deferred tax liabilities $25,000

Effective from the first day of the next financial period, the company rate of income tax was decreased from 25% to 20%. What is the tax effect adjustment to recognise the impact of the tax rate change?

Reference no: EM132849738

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