Weaver Company Had a Net Deferred Tax Liability of $34,000

question 3

Multiple Choice

Weaver Company had a net deferred tax liability of $34,000 at the beginning of the year, representing a net taxable temporary difference of $100,000 (taxed at 34 percent) . During the year, Weaver reported pretax book income of $400,000. Included in the computation were unfavorable temporary differences of $50,000 and favorable temporary differences of $20,000. At the beginning of the year, Congress reduced the corporate tax rate to 21 percent. Weaver's deferred income tax expense or benefit for the current year would be:

• A)Net deferred tax benefit of $6,300.
• B)Net deferred tax expense of $6,300.
• C)Net deferred tax benefit of $19,300.
• D)Net deferred tax expense of $19,300.

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

---

Definitions:

Common-Size Balance Sheet

A financial statement that presents all items as percentages of a common base figure rather than absolute numerical figures, facilitating comparison.

Shareholders' Equity

The residual interest in the assets of a corporation that remains after deducting liabilities, representing the ownership interest of shareholders.

Total Assets

The sum of all assets owned by a company, including cash, inventory, property, and intangible assets, represented on the balance sheet.

Deferred Income Taxes

Taxes applicable to income that is recognized in the financial statements in one period but is taxable in another.