Question
In 2020, a company has the following differences between pretax financial income and taxable income: Unearned rent revenue deferred on the books but appropriately recognized
In 2020, a company has the following differences between pretax financial income and taxable income: Unearned rent revenue deferred on the books but appropriately recognized in taxable income, $45,000. Excess depreciation on tax returns, $28,000; The companys pretax financial income for 2020 is $300,000. How much is taxable income for 2020?
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College Accounting Chapters 1-13
Authors: John Price, M. David Haddock, Michael Farina
15th Edition
125999516X, 9781259995163
