Business, 06.04.2021 02:20 kbar7555

In its 2021 income statement, Blossom Corp. reported depreciation of $4700000 and interest revenue on municipal obligations of $810000. Blossom reported depreciation of $6800000 on its 2021 income tax return. The difference in depreciation is the only temporary difference, and it will reverse equally over the next 3 years. Blossom's enacted income tax rates are 25% for 2021, 20% for 2022, and 15% for 2023 and 2024. What amount should be included in the deferred income tax liability in Blossom's December 31, 2021 balance sheet

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In its 2021 income statement, Blossom Corp. reported depreciation of $4700000 and interest revenue o...

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