Business
Business, 04.04.2020 11:55, hiiliohi9433

Ivanhoe Corp.'s 2021 income statement had pretax financial income of $502000 in its first year of operations. Ivanhoe uses an accelerated cost recovery method on its tax return and straight-line depreciation for financial reporting. The differences between the book and tax deductions for depreciation over the five-year life of the assets acquired in 2021, and the enacted tax rates for 2021 to 2025 are as follows:
Book Over (Under) Tax
Tax Rates
2021 $(102000) 25%
2022 (132000) 20%
2023 (32000) 20%
2024 122000 20%
2025 142000 20%
There are no other temporary differences.
Required:
A) In Ivanhoe's December 31, 2021 balance sheet, the noncurrent deferred income tax liability and the income taxes currently payable should be .

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Ivanhoe Corp.'s 2021 income statement had pretax financial income of $502000 in its first year of op...

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