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The beginning balance in Swan, Inc.'s OAA is $6,700, and the following transactions occur. Depreciation recapture income $21,600 Payroll tax penalty (4,200) Tax exempt
The beginning balance in Swan, Inc.'s OAA is $6,700, and the following transactions occur. Depreciation recapture income $21,600 Payroll tax penalty (4,200) Tax exempt interest income 4,012 Nontaxable life insurance proceeds 100,000 Life insurance premiums paid (nondeductible) (3,007) What is Swan's ending OAA balance?
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
4th Edition
978-0133251241, 9780133427516, 133251241, 013342751X, 978-0133255584
