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Current Attempt in Progress Riverbed Inc. reports accounting income of $104.000 for 2020. its first year of operations. The following items causeable income to be
Current Attempt in Progress Riverbed Inc. reports accounting income of $104.000 for 2020. its first year of operations. The following items causeable income to be different than income reported on the financial statements 1 2 Capital cost allowance on the tax return) is greater thun depreciation on the income statement by $15,200. Rent revenue reported on the tax return is $22.300 higher than tentreut reported on the income statement Non deductible fines appear as an expense of $12.800 on the income statement. Riverbedstax rate is 30% for all years and the company expects to reportable income in all future years. Riverbed 3 4 reports under IRS Your answer is correct Calculate taxable income and income tax payable for 2020 Thabit income for 2020 12400 Income tax payable for 2020 077320 Textbook and Media * Your answer is incorrect Prepare the journal entries to record income taxes for 2020. (Credit account titles are automatically indented when the amount is entered Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Year Account Titles and Explanation Debit Credit 2020 To record current tax expense) ITTAA 2020 (To record deferred tax benefit) eTextbook and Media List of Accounts * Your answer is incorrect Prepare the income tax expense section of the income statement for 2020, beginning with the line "Income before income Riverbed Inc. (Partial) Income Statement e Textbook and Media List of Accounts Provide the presentation for any resulting derved to talance sheet accounts December 31, 2000. e tut Riverbed follows ASPE Riverbed Inc. (Partial Balance Sheet eTextbook and Media List of Accounts Attempts of used in Saw
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