Q24: Accounting for Income Taxes & NOL Homework. Unanswered For ABC Corp, Pretax accounting income in FY 2019 is $3,700. Part of that is from municipal bond interest ($2,000 bond paying 8%). ABC chooses to consider real estate installments sales as taxable when payments are collected, per IRS code. Book depreciation was $ 425 but MACRS under the tax code is $ 615 for the year. The balance in the estimated warranty liability account declined by $ 330 during 2019. They collected $2,000 payments on installment note related to real estate sales while making $ 1,700 of real property sales on installment notes in 2019. The company's statutory tax rate is 30%; as of 1/1/2019 DTA had a 19 balance while DTL had a 124 balance. What is ABC Corp's Taxes Payable for 2019? 0 A $957 o B $996 O c $1,110 OD $989 O E $1,506 Q25: Accounting for Income Taxes and NOL Homework. Unanswered For ABC Corp, Pretax accounting income in FY 2019 is $3,700. Part of that is from municipal bond interest ($2,000 bond paying 8%). ABC chooses to consider real estate installments sales as taxable when payments are collected, per IRS code. Book depreciation was $ 425 but MACRS under the tax code is $ 615 for the year. The balance in the estimated warranty liability account declined by $ 330 during 2019. They collected $2,000 payments on installment note related to real estate sales while making $ 1,700 of real property sales on installment notes in 2019. The company's statutory tax rate is 30%; as of 1/1/2019 DTA had a 19 balance while DTL had a 124 balance. What is ABC Corp's Taxes expense for 2019? O A $957 B $996 o C $1,110 OD $989 O E $1,506 Fi Fu Q 26: Accounting for Income Taxes and NOL Homework. Unanswered For ABC Corp, Pretax accounting income in FY 2019 is $3,700. Part of that is from municipal bond interest ($2,000 bond paying 8%). ABC chooses to consider real estate installments sales as taxable when payments are collected, per IRS code. Book depreciation was $425 but MACRS under the tax code is $ 615 for the year. The balance in the estimated warranty liability account declined by $ 330 during 2019. They collected $2,000 payments on installment note related to real estate sales while making $ 1,700 of real property sales on installment notes in 2019. The company's statutory tax rate is 30%; as of 1/1/2019 DTA had a 19 balance while DTL had a 124 balance. What is ABC Corp's balance in DTL as of 12/31/2019? 0 A $124 o B $32 O C $ 156 O D $490 O E $39 Homework. Unanswered For ABC Corp, Pretax accounting income in FY 2019 is $3,700. Part of that is from municipal bond interest ($2,000 bond paying 8%). ABC chooses to consider real estate installments sales as taxable when payments are collected, per IRS code. Book depreciation was $ 425 but MACRS under the tax code is $ 615 for the year. The balance in the estimated warranty liability account declined by $ 330 during 2019. They collected $2,000 payments on installment note related to real estate sales while making $ 1,700 of real property sales on installment notes in 2019. The company's statutory tax rate is 30%; as of 1/1/2019 DTA had a 19 balance while DTL had a 124 balance. In the Income tax journal entry, what is the entry for DTA? O A Credit $ 90 O B Debit $ 90 C Credit $ 71 o D Debit $ 71 O E No entry for DTA in 2019 For ABC Corp, Pretax accounting income in FY 2019 is $3,700. Part of that is from municipal bond interest ($2,000 bond paying 8%). ABC chooses to consider real estate installments sales as taxable when payments are collected, per IRS code. Book depreciation was $ 425 but MACRS under the tax code is $ 615 for the year. The balance in the estimated warranty liability account declined by $ 330 during 2019. They collected $2,000 payments on installment note related to real estate sales while making $ 1,700 of real property sales on installment notes in 2019. The company's statutory tax rate is 30%; as of 1/1/2019 DTA had a 19 balance while DTL had a 124 balance. What is ABC's effective tax rate (in whole percentages)? O A 30% o B 26% O c 29% 29% OD 33% 33% o E Not enough information to determine effective tax rate
