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solve in excel and show calculations operations. The following items cause touble income to be different than income reported on the financial statements. 1. Capital
solve in excel and show calculations
operations. The following items cause touble income to be different than income reported on the financial statements. 1. Capital cost allowance (on the tax return) is greater than depreciation on the income statement by $16,000. 2. Reat revente reported on the tax return is \$24,000 higher than rent revenue reported on the income statement. 3. Noo-deductible fines appear as an expense of $15.000 on the income statement. 4. ZAon's tax rate is 30% for all years abd the company expects to report taxable income in all fature years. Zdot reports under IFRS. Instructions a. Calculate taxable income and income tax payable for 20023. b. Calculate any deferred tax balances at December 31, 2023. c. Prepare the joamal entries to recotd income tases for 2023. d. Prepare the income tax expense section of the income statement for zo23, beginning with the line "Ineome before income tax: " e. Reconcle the statutory and effective rates of income tas for 2023 . Roabd rates to obe decimal place. f. Provide the SFP presentation for any resulting deferrel tas acrounts at Decenber 31 , 2023. Be specific about the classiffeation Step by Step Solution
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