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please help with accounting...thank you so much Kensington had this info at the end of 2015, its first year of operations: Pretax book income $800,000
please help with accounting...thank you so much
Kensington had this info at the end of 2015, its first year of operations: Pretax book income $800,000 300 000 Prepaid expense Excess of tax over book depreciation 200,000 100,000 Interest Income on municipal bonds No other permanent or temporary differences exist. The prepaid expense will be expensed in 2018; the depreciation will reverse evenly over the next three years. Ta rate is 30%. Future ne income is probable. The 12/31/1 Income Tax Payable is: Select one: O a. $60,000 O b. $240,000 O c. $210,000 O d. $180,000 O e. $360,000Step by Step Solution
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