Ferguson Company has the following accumulated taxable temporary differences: 31/12/19 :$3,600,000 31/12/18: $2,560,000 The decreed tax rate

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Ferguson Company has the following accumulated taxable temporary differences:

31/12/19 :$3,600,000

31/12/18: $2,560,000

The decreed tax rate for 2019 is 40%, while the decreed tax rate for future years is 30%. The taxable income for 2019 is $6,400,000 and there are no permanent differences.

Calculate Ferguson's pre-tax financial income for 2019.

Related Book For answer-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1337788281

3rd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Posted Date: May 16, 2023 07:59 AM

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Ferguson Company has the following accumulated taxable temporary differences: 31/12/19 :$3,600,000 31/12/18: $2,560,000 The decreed tax rate

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Intermediate Accounting Reporting and Analysis

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