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Business, 07.10.2019 16:10 ciya12

Burnham company collected rent of $3,800 during year 1. for income tax reporting, the rent is taxed when collected. for financial reporting, the rent is recognized as income in the period earned. at the end of year 1, the unearned portion of the rent collected during the year amounted to $440. burnham had no temporary differences at the beginning of the current year. assume an income tax rate of 30%. what is the amount of the deferred tax asset that should be recognized at the end of year 1?

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Burnham company collected rent of $3,800 during year 1. for income tax reporting, the rent is taxed...
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