Question
TarHeel Corporation reported pretax book income of $1,014,000. During the current year, the net reserve for warranties increased by $100,700. In addition, tax depreciation exceeded
TarHeel Corporation reported pretax book income of $1,014,000. During the current year, the net reserve for warranties increased by $100,700. In addition, tax depreciation exceeded book depreciation by $203,500. Finally, TarHeel subtracted a dividends received deduction of $52,800 in computing its current year taxable income. TarHeel's accounting effective tax rate is:
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Research Methods For Accounting And Finance Global Management Series
Authors: Audrey Paterson, Kevin D. Ogorman, David Leung, Robert Macintosh, William Jackson
1st Edition
1910158895, 978-1910158890
