k ces Kyle, Incorporated, owns 75 percent of CRT Company. During the current year, CRT reported net income of $680,000 but paid a total cash dividend of only $120,000. Required: What deferred income tax liability must be recognized in the consolidated balance sheet? Assume the tax rate is 21 percent. Multiple Choice O $37,950 $34,710 $30,870

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Kyle, Incorporated, owns 75 percent of CRT Company. During the current year, CRT reported net income of $680,000 but paid a total cash dividend of
only $120,000.
Required:
What deferred income tax liability must be recognized in the consolidated balance sheet? Assume the tax rate is 21 percent.
Multiple Choice
O
$37,950
$34,710
$30,870
Transcribed Image Text:ces Kyle, Incorporated, owns 75 percent of CRT Company. During the current year, CRT reported net income of $680,000 but paid a total cash dividend of only $120,000. Required: What deferred income tax liability must be recognized in the consolidated balance sheet? Assume the tax rate is 21 percent. Multiple Choice O $37,950 $34,710 $30,870
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