(L01) In 2017, Amirante Corporation had pretax financial income of $168,000 and taxable income of $120,000. The...
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(L01) In 2017, Amirante Corporation had pretax financial income of $168,000 and taxable income of $120,000. The difference is due to the use of different depreciation methods for tax and accounting purposes. The effective tax rate is 40%.
Compute the amount to be reported as income taxes payable at December 31, 2017.
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