Winding should record this change by debiting


At December 31, 2013, Winding Corporation reported a deferred tax liability of $131,250 which was attributable to a taxable temporary difference of $375,000. The temporary difference is scheduled to reverse in 2018. During 2014, a new tax law increased the corporate tax rate from 35% to 40%. Winding should record this change by debiting

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Accounting Basics: Winding should record this change by debiting
Reference No:- TGS042278

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