Business, 17.12.2019 21:31 eriks1818

As of the beginning of the year, gratiot company recorded a valuation allowance of $200,000 against its deferred tax assets of $1,000,000. the valuation allowance relates to a net operating loss carryover from the prior year. during the year, management concludes that the valuation allowance is no longer necessary because it forecasts sufficient taxable income to absorb the nol carryover. what is the impact of management’s reversal of the valuation allowance on the company’s effective tax rate?

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As of the beginning of the year, gratiot company recorded a valuation allowance of $200,000 against...

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