Business
Business, 15.04.2020 17:16, tareas7009

In its 2021 income statement, Oriole Corp. reported depreciation of $4000000 and interest revenue on municipal obligations of $733000. Oriole reported depreciation of $5890000 on its 2021 income tax return. The difference in depreciation is the only temporary difference, and it will reverse equally over the next 3 years. Oriole's enacted income tax rates are 25% for 2021, 20% for 2022, and 15% for 2023 and 2024. What amount should be included in the deferred income tax liability in Oriole's December 31, 2021 balance sheet?

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In its 2021 income statement, Oriole Corp. reported depreciation of $4000000 and interest revenue on...

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