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Scooter Company purchased a short-term investment on January 1, 20X1 as shown below. Cost of the short-term investment 450,000 Fair value of the short-term investment
Scooter Company purchased a short-term investment on January 1, 20X1 as shown below.
| Cost of the short-term investment | 450,000 |
| Fair value of the short-term investment at year-end | 546,000 |
| Tax rate | 21% |
| Sales | 1,900,000 |
| Operating expenses | 1,623,000 |
| Estimated tax payment | 31,000 |
What is the ending balance of taxes payable at December 31, 20X1?
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Auditing The ISM
Authors: Mr. Ajoy Chatterjee
3rd Edition
8190233041, 978-8190233040
