Friday, May 29, 2015

At December 31, 2012, Apaloosa Corporation had a deferred tax liability of $25,000

At December 31, 2012, Apaloosa Corporation had a deferred tax liability of $25,000. At December 31, 2013, the deferred tax liability is $42,000. The corporation\'s 2013 current tax expense is $48,000. What amount should Apaloosa report as total 2013 tax expense?

Click here: At December 31, 2012, Apaloosa Corporation had a deferred tax liability of $25,000