ACC2363_QUIZ 2_Q #16

pdf

School

Algonquin College *

*We aren’t endorsed by this school

Course

2363

Subject

Accounting

Date

Nov 24, 2024

Type

pdf

Pages

1

Uploaded by ok1807

Report
11/29/23, 8:59 AM Question 16 of 100 - Quiz Two https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchId=6725a273-fdf5-482a-a475-ba3a80cb0a9f#/question/15 1/1 View Policies Show Attempt History Your answer is correct. In its 2023 income statement, its ±rst year of operations, Culver Corp. reported depreciation of $556000 and dividend revenue from a Canadian corporation of $118000. For 2023 income tax purposes, Culver claimed CCA of $838000. The difference in depreciation/CCA will reverse in equal amounts over the next three years. Culver's income tax rates are 35% for 2023, 30% for 2024, and 25% for both 2025 and 2026. What amount should be included as the deferred tax liability on Culver's December 31, 2023 SFP? $75200 $84600 $93060 $70500 eTextbook and Media Attempts: 1 of 3 used
Discover more documents: Sign up today!
Unlock a world of knowledge! Explore tailored content for a richer learning experience. Here's what you'll get:
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help