Acc423 Intermediate Accounting: BE19-10 Clydesdale Corporation has a cumulative temporary difference

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Acc423 Intermediate Accounting

BE19-10
Clydesdale Corporation has a cumulative temporary difference related to depreciation of $580,000 at December 31, 2012. This difference will reverse as follows: 2013, $42,000; 2014, $244,000; and 2015, $244,000. Enacted tax rates are 34% for 2013 and 2014, and 40% for 2015. Compute the amount Clydesdale should report as a deferred tax liability at December 31, 2012.
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