In 2015,its first year of operations,Moulin & Company experienced a $326,000 net operating loss and recorded a deferred tax asset of $117,360.Moulin decides that it is more likely than not that it will only be able to generate $250,000 of taxable income during the carryforward period.As a result,without generating additional future taxable income it will not be able to fully realize the NOL carryforward benefit.
Prepare the necessary journal entry to record the net deferred tax asset in 2015.

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The Answer of In 2015,its first year of operations,Moulin & Company experienced a $326,000 net operating loss and recorded a deferred tax asset of $117,360.Moulin decides that it is more likely than not that it will only be able to generate $250,000 of taxable income during the carryforward period.As a result,without generating additional future taxable income it will not be able to fully realize the NOL carryforward benefit.
Prepare the necessary journal entry to record the net deferred tax asset in 2015.

In 2015,its First Year of Operations,Moulin & Company Experienced a $326,000