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1. Raninu Company reports pretax financial income of $85,280 for 2019. The following items cause taxable income to be different from pretax financial income. a.

1. Raninu Company reports pretax financial income of $85,280 for 2019. The following items cause taxable income to be different from pretax financial income. a. Depreciation on the income statement by $20,620. b. Unearned rent revenue is $22,390. c. Fines of $12,900 have been deducted on the income statement. The Raninu tax rate 20%. A. Compute the Income Taxes Payable B. Prepare the journal entry C. Prepare the Income Tax Expense section of the Income statement, beginning with "Income Before Income Taxes

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