Question
2018 Pretax Accounting Income:$400,000 2018 Municipal Bond Interest Income Included in Pretax Accounting Income:$20,000 2018 Warranty Expense of $70,000 for Accounting Purposes 2018 Actual Warranty
2018 Pretax Accounting Income:$400,000
2018 Municipal Bond Interest Income Included in Pretax Accounting Income:$20,000
2018 Warranty Expense of $70,000 for Accounting Purposes
2018 Actual Warranty Costs Incurred were $50,000
December 31, 2018 Warranty Liability is $20,000
Federal Tax Rate is 20%
- What is the taxable income for the year ended December 31, 2018?
- What is the required current/deferred tax journal entry at December 31, 2018?
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Cost-Benefit Analysis Concepts and Practice
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
5th edition
1108401295, 9781108415996, 1108415997, 978-1108401296
