Cordelan revalues, under its accounting policy (case data), land whose tax base remains equal to its cost, 1,000,000; the revalued amount is 1,360,000. Cordelan has no intention of selling the land. With an expected rate of 25%, compute the temporary difference and the deferred tax liability.
- Tax base of the land
- 1,000,000
- Revalued carrying amount
- 1,360,000
- Expected rate (%)
- 25 %