Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a reconciliation of TCFs total income tax provision with its hypothetical income tax expense of 21% in both dollars and rates Reconciliation of Effective

Prepare a reconciliation of TCFs total income tax provision with its hypothetical income tax expense of 21% in both dollars and rates

Reconciliation of Effective Tax Rate Dollars Percent
Tax provision before adjustments $950,250 21.00 %
Interest from municipal bonds $(2,100) (0.50) %
Nondeductible stock compensation $1,050 0.02 %
Nondeductible fines $210 +/-0.0046 0.00 %
Income tax provision $949,410 +/-0.03 20.97 %

image text in transcribed

:Prepare a reconciliation of TCF's total income tax provision with its hypothetical income tax expense of 21% in both dollars nd rates. (Round your percentage answers to 2 decimal places. Amounts to be deducted should be indicated by a minus Reconciliation of Effective Tax Rate Percent Tax provision before adjustmentss950250 Interest frem municipal bonds Nondeductible stock compensation Nondeductible fines Income tax provision : i : 21.001% S 1,050 2101 949,410| 0.021% 0.00%0.00 % 20.971 031% |$ :Prepare a reconciliation of TCF's total income tax provision with its hypothetical income tax expense of 21% in both dollars nd rates. (Round your percentage answers to 2 decimal places. Amounts to be deducted should be indicated by a minus Reconciliation of Effective Tax Rate Percent Tax provision before adjustmentss950250 Interest frem municipal bonds Nondeductible stock compensation Nondeductible fines Income tax provision : i : 21.001% S 1,050 2101 949,410| 0.021% 0.00%0.00 % 20.971 031% |$

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Anti Money Laundering Governance Risk Management And Compliance GRC Book 4

Authors: Uwem Essia, Kester Ehiwario

1st Edition

B0BBXZ6GKR, 979-8848908473

More Books

Students also viewed these Accounting questions