CourseLover

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    Devry University
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Category > Business & Finance Posted 10 Dec 2017 My Price 10.00

what amount should Shin report as total income tax

On its December 31, year 2 balance sheet, Shin Co. had income taxes payable of $13,000 and a current deferred tax asset of $20,000 before determining the need for a valuation account. Shin had reported a current deferred tax asset of $15,000 at December 31, year 1. No estimated tax payments were made during year 2. At December 31, year 2, Shin determined that it was more likely than not that 10% of the deferred tax asset would not be realized. In its year 2 income statement, what amount should Shin report as total income tax expense?

Answers

CourseLover
(12)
Status NEW Posted 10 Dec 2017 04:12 PM My Price 10.00

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