How to Pass FAR CPA Exam Deferred Tax Assets | Deferred Tax Liabilities | Intermediate Accounting

[@bluelarry1674]

I love (and watch) professor Farhat's lectures so much that when I study accounting, my inner monologue has adopted his accent! Thanks for all you do!

[@AccountingLectures]

Thank You BLUELARRY!
You are welcome..
Check my website for more:
✔farhatlectures.com/
✔Instagram: @farhatlectures
✔ Linkedin: www.linkedin.com/in/professorfarhat/
✔Facebook:@accountinglectures
✔Twitter: @farhatlectures
🎤Email: [e-mail]

[@sumeshvallath7958]

Hi Sir, then how we treat rent revenue for the first year... Do we need to book provision for Deferred tax in the first year??? Plz clarify

[@AccountingLectures]

Yes.

[@sowmyasriram9947]

How did 21000 come?

[@user-fr9jv1np1j]

I don't think the first question is correct. It is about "installment sales method", not "sale on credit". Shouldn't the answer be "Deferred Tax Asset" because GAAP is recognizing the revenue conservatively? I would greatly appreciate your input. Thanks!