Required: For each 31 December 20X6 through 20X8, determine: (Enter your answers in thousands to two decimal places.) 1. The tax basis for the equipment. 2. The accounting basis for the equipment. 3. The cumulative amount of the temporary difference relating to the equipment.
Parry Corp. acquired new equipment for $2,400,000 in 20X6. For accounting purposes, the equipment will be
Required:
For each 31 December 20X6 through 20X8, determine: (Enter your answers in thousands to two decimal places.)
1. The tax basis for the equipment.
2. The accounting basis for the equipment.
3. The cumulative amount of the temporary difference relating to the equipment.
4. The balance of
5. The amount of the deferred income tax adjustment.
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