What is deferred tax reported on william balance sheet

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Question - William co reported $550,000 in financial book income before taxes for year 3 tax depreciation for the year exceeded book depreciation by $50,000 the tax rate for year 3 was 30% and congress enacted a tax rate of 40% for year after year 3 what is the deferred tax reported on William's December 31, year 3 balance sheet?

a- 15,000 deferred tax asset

b- 15,000 deferred tax liability

c- 20,000 deferred tax asset

d- 20,000 deferred tax liability

Reference no: EM131807887

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