For 2011, Company A. has pretax accounting income of $3 million. Among the revenues and expenses making
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Depreciation expense $300,000
Salary and wage expense 400,000
Maintenance expense 123,000
Goodwill impairment 500,000
Tax-exempt interest on municipal bonds 15,000
Company A's depreciation for tax purposes was $380,000 for 2011. Company A's received no dividends during the year, but paid $30,000 in dividends during the year.
What is Company A's 2011 taxable income?
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
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