Chapter 7, Problem 7.5E

Equivalent units for materials are_.

What is the deferred tax liabilities to be reported in the balance sheet

General accounting

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The cost od goods sold by kraft corporation for the period is

Kelvin Apparel uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. Four years after its purchase, one of Kelvin's warehouses has a carrying value of $520,000 and a tax basis of $410,000. There were no other temporary differences and no permanent differences. Taxable income was $5.5 million and Kelvin's tax rate is 35%. What is the deferred tax liability to be reported in the balance sheet?

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