e journal entry required to record the tax effect of the revaluation. a. None of answers given b. Income tax expense (Dr), Deferred tax liability (Cr) c. Deferred tax liability (Dr), Income tax expense (Cr) d. Deferred tax Asset (Dr), Deferred tax liability (Cr)
e journal entry required to record the tax effect of the revaluation. a. None of answers given b. Income tax expense (Dr), Deferred tax liability (Cr) c. Deferred tax liability (Dr), Income tax expense (Cr) d. Deferred tax Asset (Dr), Deferred tax liability (Cr)
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 44P
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The journal entry required to record the tax effect of the revaluation.
a.
None of answers given
b.
Income tax expense (Dr),
c.
Deferred tax liability (Dr), Income tax expense (Cr)
d.
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