Question
For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income $240,000 Permanent difference
| For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: |
| Pretax accounting income | $240,000 |
| Permanent difference | (14,700) |
| 225,300 | |
| Temporary difference-depreciation | (19,700) |
| Taxable income | $205,600 |
| Tringali's tax rate is 35%. |
| What should Tringali report as its income tax expense for its first year of operations? |
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The Taxpayers Rights Before During And After The Tax Audit In Cameroon
Authors: Salomon Malang II
1st Edition
6205877058, 978-6205877050
