E9-20A. (Learning Objective 1: Accounting for income tax) At December 31, 20X0, Sandara Real Estate reported a
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E9-20A. (Learning Objective 1: Accounting for income tax) At December 31, 20X0, Sandara Real Estate reported a current liability for income tax payable of $190,000. During 20X1, Sandara earned income of $1,300,000 before income tax. The company’s income tax rate during 20X1 was 36%. Also during 20X1, Sandara paid income taxes of $360,000.
How much income tax payable did Sandara Real Estate report on its Balance Sheet at December 31, 20X1? How much income tax expense did Sandara report on its 20X1 Income Statement?
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Related Book For 
Financial Accounting International Financial Reporting Standards Global Edition
ISBN: 9781292211145
11th Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison
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