Business, 15.07.2021 20:00, blackjack73
Prance, Inc., earns pretax book net income of $1,933,000 in 2019. Prance acquires a depreciable asset that year, and first-year tax depreciation exceeds book depreciation by $193,300. Prance reported no other temporary or permanent book-tax differences. The pertinent U. S. Federal corporate income tax rate is 21%, and Prance earns an after-tax rate of return on capital of 8%.
Enter below the Prance's 2019 deferred tax expense and any deferred tax asset or liability.
If required, round your answer to nearest whole value.
Balance Sheet
Deferred tax liability
Income Statement
Deferred tax expense
Prance’s total tax expense will consist of the following:
Current tax expense
Deferred tax expense
Total tax expense
Answers: 3
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Prance, Inc., earns pretax book net income of $1,933,000 in 2019. Prance acquires a depreciable asse...
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