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Question 3 (4 points) Daze Inc. reports the following information at year end: Carrying value of capital assets Tax value of capital assets Unearned rent
Question 3 (4 points) Daze Inc. reports the following information at year end: Carrying value of capital assets Tax value of capital assets Unearned rent revenue* Development costs incurred Amortization of development costs Golf membership dues $1,670,000 $1,560,000 $60,000 $225,000 $45,000 $3,000 *The unearned rent revenue amount represents collections in advance for the 2 months a end. Rent revenue is taxable in the year it was collected. Development costs are deducti when paid. Required: Calculate the total temporary difference for income tax purposes. (4 marks) Format v BI U FEB @ 23 tv
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