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Exercise 19-2 The following information is available for Wenger Corporation for 2013. 1. Excess of tax depreciation over book depreciation, $49,000. This $49,000 difference will
Exercise 19-2 The following information is available for Wenger Corporation for 2013. 1. Excess of tax depreciation over book depreciation, $49,000. This $49,000 difference will reverse equally over the years 2014-2017. 2. Deferral, for book purposes, of $33,400 of rent received in advance. The rent will be earned in 2014. 3. Pretax financial income, $357,300. 4. Tax rate for all years, 30%. Compute taxable income for 2013. Taxable income
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