Question
A company had a gross income of $45,000 last year. The firm had cash expenses of $23,500. In addition to the cash expenses, the firm
A company had a gross income of $45,000 last year. The firm had cash expenses of $23,500. In addition to the cash expenses, the firm bought a piece of land for $10,000. Depreciation expences were $11,575. The taxable income in last year was:
A. $12,555
B. $33,265
C. $11,12
5 D. $2,255
E. $1,125
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
