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In its first year of operation, Aimside, Inc. had pretax financial income of $670,000. Included in the $670.000 was $310.000 of feesurance proceeds (not
In its first year of operation, Aimside, Inc. had pretax financial income of $670,000. Included in the $670.000 was $310.000 of feesurance proceeds (not taxable), a $60,000 insurance premium on the life insurance policy (not tax-deductible), and depreciation of $190.000 Depreciation for tax purposes was $60,000. The tax rate is 31% Prepare Aimside's journal entry for income taxes. For the toolbar, preys ALT+10 PC or ALTHEN F10 (Mac
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