{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-13T00:08:36-04:00", "answer_date": "2024-09-13 00:08:36", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10523974", "url": "\/study-help\/questions\/for-the-current-year-elephant-corp-had-90m-in-pretax-10523974", "question_creation_date_js": "2024-09-13T00:08:36-04:00", "question_creation_date": "Sep 13, 2024 12:08 AM", "meta_title": "[Solved] For the current year, Elephant Corp. had | SolutionInn", "meta_description": "Answer of - For the current year, Elephant Corp. had $90M in pretax accounting income. This included warranty expense of $3M and $ | SolutionInn", "meta_keywords": "current,year,elephant,corp,$90m,pretax,accounting,income,included,warranty,expense,$3m", "question_title_h1": "For the current year, Elephant Corp. had $90M in pretax accounting income. This included warranty expense of $3M and $10M in depreciation expense according to", "question_title": "For the current year, Elephant Corp. had $90M in pretax accounting income.", "question_title_for_js_snippet": "For the current year, Elephant Corp had $90M in pretax accounting income This included warranty expense of $3M and $10M in depreciation expense according to US GAAP rules According to tax rules, none of the warranty expenses are deductible in the current year's tax return and tax depreciation amounted to $20M in total for the year, $10M more than US GAAP depreciation expense In the absence of other temporary or permanent differences, what was Elephant's taxable income for the year O $80 million O $73 million O $90 million $83 million", "question_description": "

\"image<\/p> For the current year, Elephant Corp. had $90M in pretax accounting income. This included warranty expense of $3M and $10M in depreciation expense according to US GAAP rules. According to tax rules, none of the warranty expenses are deductible in the current year's tax return and tax depreciation amounted to $20M in total for the year, $10M more than US GAAP depreciation expense. In the absence of other temporary or permanent differences, what was Elephant's taxable income for the year? O $80 million. O $73 million. O $90 million. $83 million", "transcribed_text": "", "related_book": { "title": null, "isbn": null, "edition": null, "authors": null, "cover_image": null, "uri": null, "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-13 00:08:36", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/industrial-organizational-psychology-understanding-the-workplace\/what-competencies-are-included-in-study-skills-2004869", "description": "What competencies are included in study skills?", "stars": 0 }, { "url": "\/at-the-end-of-the-current-year-the-accounts-receivable-account-has", "description": "At the end of the current year, the accounts receivable account has a debit balance of $1,275,000 and net sales for the year total $16,000,000. Determine the amount of the adjusting entry to provide...", "stars": 3 }, { "url": "\/study-help\/questions\/for-the-current-year-elephant-corp-had-90m-in-pretax-10523974", "description": "For the current year, Elephant Corp. had $90M in pretax accounting income. This included warranty expense of $3M and $10M in depreciation expense according to US GAAP rules. According to tax rules,...", "stars": 3 }, { "url": "\/study-help\/questions\/report2web-c-concur-ricoh-5502-ricoh-6004-managers-are-using-8045037", "description": "Report2Web C Concur RICOH 5502 RICOH 6004 Managers are using PERT to manage their project. The project has the following Activities, Activity times, and predecessors. Activity MIN, MOST LIKELY...", "stars": 3 }, { "url": "\/study-help\/questions\/outdoor-equipment-oe-sells-camping-equipment-on-december-1-the-972316", "description": "Outdoor Equipment (OE) sells camping equipment. On December 1, the accounts receivable account had a balance of $50,000, the bad debt expense account had a balance of $0, and the allowance for...", "stars": 3 }, { "url": "\/study-help\/questions\/explore-how-to-reduce-employee-turnover-absenteeism-and-the-cost-1004100", "description": "explore how to reduce employee turnover, absenteeism and the cost turnover has on corporate profits. In the process of researching this topic, look into numerous ways companies have tried to improve...", "stars": 3 }, { "url": "\/study-help\/questions\/ca3auditing-a-describe-the-factors-you-as-auditor-should-considered-992302", "description": "CA3-AUDITING a) Describe the factors you as auditor should considered and the procedures should bee performed prior to acceptance as auditor (10 marks) b) A good system of internal control consists...", "stars": 3 }, { "url": "\/study-help\/questions\/can-i-get-some-help-with-these-questions-a-glass-5074297", "description": "Can I get some help with these questions A glass is tapered so that it is narrower at the top than at the bottom. The glass is filled using a hose with a constant flow rate of 4 ml per second. Cross-...", "stars": 3 }, { "url": "\/study-help\/questions\/which-one-of-the-following-is-an-example-of-a-1421166", "description": "Which one of the following is an example of a task\/work group? A. A school counseling group that addresses students' responsible sexual behavior. B. A group held in a clinic that focuses on treating...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/after-the-accounts-are-closed-on-february-3-2016-prior-10523973", "next": "\/study-help\/questions\/need-help-not-allowed-to-use-excel-on-exam-so-10523975" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "For the current year, Elephant Corp. had $90M in pretax accounting income.", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/for-the-current-year-elephant-corp-had-90m-in-pretax-10523974" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } } }