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At the end of its first year of operations, ABC prepared the reconciliation of its book income and its taxable income for 2 0 2
At the end of its first year of operations, ABC prepared the reconciliation of its book income and its taxable income for as follows:
Income before taxes $
less: Exempt dividend income
Unearned rental income
Obligation for guarantee expenses
less: Additional depreciation in the return
Taxable Income $
Yo Unearned rental income corresponds to the collection of a month rental that covers the period from January to June
ii In $ were disbursed to comply with the company's guarantees. However, the estimated expense for guarantees in the Statement of Income and Expenses was $
iii. In the depreciation expense on the books is greater than that on the payroll by $
The legislated tax rate enacted tax rate for the current period is Congress has already drafted the bill to reduce the corporate tax rate to effective next year. The project was approved shortly before the end of the second quarter of
As of ABC's Statement of Financial Position will report a Deferred Contributory NET Debt DTL net for
to
b
c
d
and.
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