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

Question

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

Quizplus · Accepted Answer

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

What Is the Ending Balance of Deferred Taxes A)30,000 Debit B)30,000 Credit C)130,000 Credit D)190,000 Credit

What Is the Ending Balance of Deferred Taxes A)30,000 Debit
B)30,000 Credit
C)130,000 Credit
D)190,000 Credit