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please help! QUESTION 1 Hunt Co, at the end of 2018, its first year of operations, prepared a reconciliation between preta financial income and taxable
please help! QUESTION 1 Hunt Co, at the end of 2018, its first year of operations, prepared a reconciliation between preta financial income and taxable income as follow Pretax financial income $ 950,000 Estimated warranty expenses deductible for taxes when paid 1,200,000 Extra depreciation (1.950.000) Taxable income $ 200.000 Pretax financial income in 2019 was $1,240,000. Actual warranty expenses were $800,000 higher than estimated warranty expenses, in addition taxable depreciation was $650,000 lower than financial statement depreciation in 2019. The tax rate was 30 percent in both years. QUESTION 1 Hunt Co, at the end of 2018, its first year of operations, prepared a reconciliation between preta financial income and taxable income as follow Pretax financial income $ 950,000 Estimated warranty expenses deductible for taxes when paid 1,200,000 Extra depreciation (1.950.000) Taxable income $ 200.000 Pretax financial income in 2019 was $1,240,000. Actual warranty expenses were $800,000 higher than estimated warranty expenses, in addition taxable depreciation was $650,000 lower than financial statement depreciation in 2019. The tax rate was 30 percent in both years
please help!
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