In 2017, Noshy Corporation had accounting income of $234,000 and taxable income of $184,000. The difference is

Question:

In 2017, Noshy had accounting income of $234,000 and taxable income of $184,000. The difference is due to the use of different depreciation methods for tax and accounting purposes. The tax rate is 25%. Calculate the amount to be reported as income tax payable at December 31, 2017.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...