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billyd1996 billyd1996
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5 years ago
In 2015, its first year of operations, Neuro Inc. experienced a $204,000 net operating loss and recorded a deferred tax asset of $65,280. Neuro decides that it is more likely than not that it will only be able to generate $195,000 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. In order to account for this, what amount will Neuro Inc. record as a valuation allowance, assuming that the tax rate is unchanged?
A) $2,880
B) $1,958.4
C) $20,889.6
D) Cannot be determined with the information provided.
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Intermediate Accounting

Intermediate Accounting


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hpascoehpascoe
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billyd1996 Author
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5 years ago
Marking this solved, moving on to the next...
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