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At December 31, 2017, Splish Corporation had a deferred tax liability of $912,600, resulting from future taxable amounts of $2,340,000 and an enacted...

At December 31, 2017, Splish Corporation had a deferred tax liability of $912,600, resulting from future taxable amounts of $2,340,000 and an enacted tax rate of 39%. In May 2018, a new income tax act is signed into law that raises the tax rate to 46% for 2018 and future years.

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Account Titles and Explanation Debit Credit Income tax expense 163 , 800... View the full answer

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