For Its First Year of Operations Tringali Corporation's Reconciliation of Pretax

question 108

Multiple Choice

For its first year of operations Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Tringali's tax rate is 40%.
What should Tringali report as its deferred income tax liability as of the end of its first year of operations?

• A)$35,000.
• B)$20,000.
• C)$14,000.
• D)$ 8,000.

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Extreme Environment

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