The records for Kalman Ltd . show the following data for calendar 2 0 2 3 :
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Question:
The records for Kalman Ltd show the following data for calendar :
Gross profit on instalment sales recorded on the books was $ Gross profit from collections of instalment receivables was $
Golf club dues were $
Machinery was acquired in January for $ Kalman uses
straightline depreciation over a tenyear life no residual value For tax
purposes, Kalman uses CCA at for after considering the halfyear rule.
Dividends received from a Canadian corporation were $
The estimated warranty liability related to sales was $ Warranty repair costs paid during were $ The remainder will be paid in
Pretax accounting income is $ The enacted income tax rate is
Instructions
a Prepare a schedule starting with pretax accounting income to calculate taxable income.
b Prepare the required adjusting entries to record income taxes for
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: