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Kirkman Company rents properties to tenants. At the end of 2020 Kirkman recorded the following entry related to a tenant property DR Can 100,000 CR

image text in transcribedimage text in transcribed Kirkman Company rents properties to tenants. At the end of 2020 Kirkman recorded the following entry related to a tenant property DR Can 100,000 CR payment represents rent paid in advance by one of Kirkman's tenants for the years 2021 and 2022. Kirkman is a cash basis taxpayer At the end of 2020, payable of $123,000 anit is subject to a tax rate of 38%, What amount of income tax expense should Kirkman Company report at the end of 3000 CA$153.400 On $107,000 OC $73.400 OD $92.600 neamed 0,000 The man reported ecme taxes Moving to another queen wil save this resprise Question 9 Quition of 25 4 points Kirkman Company rents properties to tenants. At the end of 2020 Kirkman recorded the following entry related to a tenant property DR: Cash $60,000 CR Uneamed Rent $80,000 The payment represents rent paid in advance by one of Kirkman's tenants for the years 2021 and 2022 Kirkman is a cash basis taxpayer. At the end of 2020, Kirkman reported income taxes payable of $123,000 and is subject to a tax rate of 38% What amount of income tax expense should Kirkman Company report at the end of 20207 Ox$153.400 O $107,800 OCS73.400 On 592.600

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