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Please calculate tacabke income, taxes payable, and tax expense B C D I L M N O P Q R G H COMPREHENSIVE PROBLEM Bulletin

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Please calculate tacabke income, taxes payable, and tax expense
B C D I L M N O P Q R G H COMPREHENSIVE PROBLEM Bulletin Book income before Tax 1,000,000 Calculate Taxable income Calculate Taxes Payable Calculate tax expense Book income includes Proceeds of life insurance Book Expense includes Lobbying Expense Book Expense includes Fines Book Depreciation Tax Depreciation Book loss on sale of XYZ Corp stock Book expense on establishment of contingent liability Bad expense er to reserve Accounts receivables written off Book loss on sale of equipment Tax gain on sale of equipment all 1245 recapture Tax Expense 100.000 50.000 75 000 200.000 250.000 -25,000 No other capital gains/losses 75,000 75,000 50.000 -175.000 25,000 Net Income Per Books Excess capital losses Income subject to tax not on books Book / tax difference sale of equip Expenses on books not deductible Lobbying Contingent liability Expense Increase bad debt reserve Income on books not subject to tak Life insurance proceeds

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