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Robinson Company Had a Net Deferred Tax Liability of $35,360

question 81

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Robinson Company had a net deferred tax liability of $35,360 at the beginning of the year, representing a net taxable temporary difference of $104,000 (taxed at 34 percent) . During the year, Robinson reported pretax book income of $404,000. Included in the computation were favorable temporary differences of $54,000 and unfavorable temporary differences of $22,000. During the year, Congress reduced the corporate tax rate to 21 percent. Robinson's deferred income tax expense or benefit for the current year would be:


Definitions:

Associative Memory

A form of memory that links related information, allowing the recall of an associated item when a related cue is presented.

Memory Scanning

The mental process of searching through stored information in memory to find a specific piece of data.

Reaction Times

The duration of time it takes from the presentation of a stimulus to the onset of a motor response.

Ability

The possession of the means or skill to do something.

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