Business, 14.04.2020 23:47 jadea520

Fremarek Corp., had book income of $100,000 at December 31, 2019. Included in this amount on the income statement are: interest revenue on a bond for the state of Illinois of $20,000; accrued costs for an alleged patent infringement of Mares Corp. of $10,000; expenses for life insurance premiums on the company's CEO (Miss Fannin) and CFO (Mr. Naskrent) $15,000. The enacted tax rate for 2019 is 30% and 25% thereafter. What is the amount of the deferred tax liability Fremarek report on its balance sheet at December 31, 2019

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Fremarek Corp., had book income of $100,000 at December 31, 2019. Included in this amount on the inc...