Question: At December 31, 2017, Vaughn Corporation had a deferred tax liability of $642,200, resulting from future taxable amounts of $1,690,000 and an enacted tax rate of 38%. In May 2018, a new income tax act is signed into law that raises the tax rate to 45% for 2018 and future years.
Prepare the journal entry for Vaughn to adjust the deferred tax liability.
Need A Reliable Deferred Tax Liability Assignment Help? Hire Skilled Tutors And Get Remarkable Grades..!!
Tags: Deferred Tax Liability Assignment Help, Deferred Tax Liability Homework Help, Deferred Tax Liability Coursework, Deferred Tax Liability Solved Assignments