Question
PTFI = 70,000 Tax rate = 20% Permanent difference (rent) = 22,000 Temporary difference (fines expense) = 11,000 TI = 103,000 Income taxes payable =
PTFI = 70,000
Tax rate = 20%
Permanent difference (rent) = 22,000
Temporary difference (fines expense) = 11,000
TI = 103,000
Income taxes payable = 20,600
1. Prepare JE to record income tax:
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Management and Cost Accounting
Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, George Foster
4th edition
1405888202, 978-0273711490, 273711490, 978-1405888202
