Business
Business, 08.04.2021 21:50, jennycrapson

On January 1, 2019, Fore, Inc. purchased a machine for $1,350,000 which will be depreciated $135,000 per year for financial statement reporting purposes. For income tax reporting, Fore elected to expense $150,000 and to use straight-line depreciation which will allow a cost recovery deduction of $100,000 for 2015. Assume a present and future enacted income tax rate of 30%. What amount should be added to Fore's deferred income tax liability for this temporary difference at December 31, 2019

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On January 1, 2019, Fore, Inc. purchased a machine for $1,350,000 which will be depreciated $135,000...

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