Business, 03.09.2019 03:20, shawnball8571

At the end of its first year of operations, eagle manufacturing has a deductible temporary difference of $100,000. eagle has income taxes payable of $90,000 due to a tax rate of 40%. eagle also recorded a deferred tax asset. later, they determined that it is more likely than not that $15,000 of the deferred tax asset will not be realized. what entry should eagle make to record the reduction in asset value?

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At the end of its first year of operations, eagle manufacturing has a deductible temporary differenc...