Information for Kent Corp. for the year 2013: Reconciliation of pretax accounting income and taxable income: Pretax accounting income Permanent differences Temporary difference-depreciation Taxable income $178,500 (13,800) 164,700 (12,700) $152,000 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2012 $13,200 As of December 31, 2013 $25,900 The enacted tax rate was 23% for 2012 and thereafter. What should be the balance in Kent's deferred tax liability account as of December 31, 2013? a) $4,356. b) $5,957. c) $25,900. d) None of the above is correct.

Information for Kent Corp. for the year 2013: Reconciliation of pretax accounting income and taxable income: Pretax accounting income Permanent differences Temporary difference-depreciation Taxable income $178,500 (13,800) 164,700 (12,700) $152,000 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2012 $13,200 As of December 31, 2013 $25,900 The enacted tax rate was 23% for 2012 and thereafter. What should be the balance in Kent's deferred tax liability account as of December 31, 2013? a) $4,356. b) $5,957. c) $25,900. d) None of the above is correct.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter18: Accounting For Income Taxes

Section: Chapter Questions

Problem 12E: Temporary and Permanent Differences Lin has just completed its first year of operations and has a...

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