AB Corp expensed on the financial stmt $2,000,000 for depreciation expense during the year using straight line depreciation and deducted $3,000,000 of depreciation on the tax return. Also, corp. expensed $1,000,000 of warranty expense using an estimate of work to be done on current year''s sales but deducted on the tax return on $600,000. The corp. tax rate is 30%. What is the deferred tax asset or liability?

Posted Date: 10/12/2012 1:23:50 AM | Location : United States

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