At December 31, 2025, Whispering Inc. had a deferred tax asset of $31,600. At December 31, 2026, the deferred tax asset is $62.000 The corporation's 2026 current tax expense is $55.300. What amount should Whispering report as total 2026 income tax expense? Total income tax expense for 2026

At December 31, 2025, Whispering Inc. had a deferred tax asset of $31,600. At December 31, 2026, the deferred tax asset is $62.000 The corporation's 2026 current tax expense is $55.300. What amount should Whispering report as total 2026 income tax expense? Total income tax expense for 2026

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter3: Taxes On The Financial Statements

Section: Chapter Questions

Problem 14P

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Question

At December 31, 2025, Whispering Inc. had a deferred tax asset of $31,600. At December 31, 2026, the deferred tax asset is $62.000.
The corporation's 2026 current tax expense is $55,300.
What amount should Whispering report as total 2026 income tax expense?
Total income tax expense for 2026 $

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