What adjustment is required to the opening deferred taxes as a result of the rate change? $$\begin{array} { | l | r | }
\hline \begin{array} { l }
\text { Opening deductible (taxable) temporary } \
\text { differences }
\end{array} & ( 400,000 ) \
\hline \text { Current year deductible (taxable) temporary } & ( 100,000 ) \
\text { differences } & \
\hline \text { Tax rate (prior year) } & 40 \% \
\hline \text { Tax rate (current year) } & 30 \% \
\hline
\end{array}$$

Question

What adjustment is required to the opening deferred taxes as a result of the rate change? $$\begin{array} { | l | r | } 
\hline \begin{array} { l } 
\text { Opening deductible (taxable) temporary } \
\text { differences }
\end{array} & ( 400,000 ) \
\hline \text { Current year deductible (taxable) temporary } & ( 100,000 ) \
\text { differences } & \
\hline \text { Tax rate (prior year) } & 40 \% \
\hline \text { Tax rate (current year) } & 30 \% \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of What adjustment is required to the opening deferred taxes as a result of the rate change? $$\begin{array} { | l | r | } 
\hline \begin{array} { l } 
\text { Opening deductible (taxable) temporary } \
\text { differences }
\end{array} & ( 400,000 ) \
\hline \text { Current year deductible (taxable) temporary } & ( 100,000 ) \
\text { differences } & \
\hline \text { Tax rate (prior year) } & 40 \% \
\hline \text { Tax rate (current year) } & 30 \% \
\hline
\end{array}$$

What Adjustment Is Required to the Opening Deferred Taxes as a Result