Question
Pennant Company had the following account balances at the end of 2016: Income tax payable $35,000 Income tax expense (provision for income taxes) $40,000 Pretax
Pennant Company had the following account balances at the end of 2016:
Income tax payable
$35,000
Income tax expense (provision for income taxes)
$40,000
Pretax accounting income
$100,000
DTA
$7,000
What was Pennant's net income for 2016?
$53,000
$60,000
$67,000
$65,000
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Horngrens Accounting The Managerial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
12th edition
013448682X, 978-0134486826
