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Business, 26.11.2019 04:31 restinpeicejahseh

Foltz corp.'s 2018 income statement had pretax financial income of $500,000 in its first year of operations. foltz uses an accelerated cost recovery method on its tax return and straight-line depreciation for financial reporting. the differences between the book and tax deductions for depreciation over the five-year life of the assets acquired in 2018, and the enacted tax rates for 2018 to 2022 are as follows: book over (under) tax tax rates 2018 $(100,000) 35% 2019 (130,000) 30% 2020 (30,000) 30% 2021 120,000 30% 2022 140,000 30% there are no other temporary differences. in foltz's december 31, 2018 balance sheet, the noncurrent deferred income tax liability and the income taxes currently payable should be noncurrent deferred income tax liability income taxes currently $.

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