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The following information is available for Ivanhoe Corporation for 2019 (its first year of operations). 1. Excess of tax depreciation over book depreciation, $36,800.
The following information is available for Ivanhoe Corporation for 2019 (its first year of operations). 1. Excess of tax depreciation over book depreciation, $36,800. This $36,800 difference will reverse equally over the years 2020-2023. 2. Deferral, for book purposes, of $18,300 of rent received in advance. The rent will be recognized in 2020. 3. Pretax financial income, $320,500. 4. Tax rate for all years, 20%. (a) Your answer is correct. Compute taxable income for 2019. Taxable income $ eTextbook and Media List of Accounts 302000 Attempts: 2 of 10 used
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