Question
Accrue estimated 1st year-end US, state & local income taxes: 40% total estimated rate $1,000,000 Book Income before income tax, including $200,000 book depreciation expense
Accrue estimated 1st year-end US, state & local income taxes:
40% total estimated rate
$1,000,000 Book Income before income tax, including
$200,000 book depreciation expense vs.
$100,000 tax depreciation deduction
No other temporary or permanent book-tax differences
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
