L17 Notes_Part_12 - Income Taxes Capital Balance sheet...

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Capital and Expense Many companies have policies expensing all expenditures below a certain amount according to the materiality constraint . Financial Statement Effect Current Current Treatment Statement Expense
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Unformatted text preview: Income Taxes Capital Balance sheet Expenditure account debited Deferred Higher Higher Expense Income statement Currently account debited recognized Lower Lower 5. Disposal, Retirements, Sales...
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L17 Notes_Part_12 - Income Taxes Capital Balance sheet...

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