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The accounting records of Buffalo Inc. show the following data for 2 0 2 5 ( its first year of operations ) . 1 .
The accounting records of Buffalo Inc. show the following data for its first year of operations Life insurance expense on officers was $ Equipment was acquired in early January for $ Straightline depreciation over a year life is used, with no salvage value. For tax purposes, Buffalo used a rate to calculate depreciation. Interest revenue on State of New York bonds totaled $ Product warranties were estimated to be $ in Actual repair and labor costs related to the warranties in were $ The remainder is estimated to be paid evenly in and Gross profit on an accrual basis was $ For tax purposes, $ was recorded on the installmentsales method. Fines incurred for pollution violations were $ Pretax financial income was $ The tax rate is
The accounting records of Buffalo Inc. show the following data for its first year of operations
Life insurance expense on officers was $
Equipment was acquired in early January for $ Straightline depreciation over a year life is used, with no salvage value. For tax purposes, Buffalo used a rate to calculate depreciation.
Interest revenue on State of New York bonds totaled $
Product warranties were estimated to be $ in Actual repair and labor costs related to the warranties in were $ The remainder is estimated to be paid evenly in and
Gross profit on an accrual basis was $ For tax purposes, $ was recorded on the installmentsales method.
Fines incurred for pollution violations were $
Pretax financial income was $ The tax rate is
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