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What amount of deferred tax liability should be reported

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Question 1: Splish Corporation began operations in 2020 and reported pretax financial income of $205,000 for the year. Splish's tax depreciation exceeded its book depreciation by $42,000. Splish's tax rate for 2020 and years thereafter is 30%. In its December 31, 2020, balance sheet, what amount of deferred tax liability should be reported?

Reference no: EM132495404

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