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Foltz Corp.'s 2010 income statement had pretax financial income of $250,000 in its first year of operations. Foltz uses an accelerated cost recovery...

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Foltz Corp.'s 2010 income statement had pretax financial income of $250,000 in its first year of operations. Foltz uses an  accelerated cost recovery method on its tax return and straight-line depreciation for financial reporting. The differences  between the book and tax deductions for depreciation over the five-year life of the assets acquired in 2010, and the enacted  tax rates for 2010 to 2014 are as follows: Book Over (Under) Tax Tax Rates 2010 $(50,000) 35% 2011 (65,000) 30% 2012 (15,000) 30% 2013 60,000  30% 2014 70,000  30% There are no other temporary differences. In Foltz's December 31, 2010 balance sheet, the noncurrent deferred income tax  liability and the income taxes currently payable should be    Noncurrent Deferred Income Tax Liability Income Taxes Currently Payable $15,000 $15,000 $39,000 $39,000
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Foltz Corp.'s 2010 income statement had pretax financial income of $250,000 in its first year of operations. Foltz uses an accelerated cost recovery method on its tax return and straight­line...

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