As a result of using accelerated depreciation for tax purposes, The Starburst Company reported $651 million income tax expense in its income statement, while the actual amount of taxes paid by the company was $721 million.
How did this tax transaction affect the company's balance sheet?

Question

As a result of using accelerated depreciation for tax purposes, The Starburst Company reported $651 million income tax expense in its income statement, while the actual amount of taxes paid by the company was $721 million. 
How did this tax transaction affect the company's balance sheet?

Quizplus · Accepted Answer

The Answer of As a result of using accelerated depreciation for tax purposes, The Starburst Company reported $651 million income tax expense in its income statement, while the actual amount of taxes paid by the company was $721 million. 
How did this tax transaction affect the company's balance sheet?

As a Result of Using Accelerated Depreciation for Tax Purposes