LAX Inc. has the following income before income tax and estimated effective annual income tax rates for
Question:
LAX Inc. has the following income before income tax and estimated effective annual income tax rates for the first three quarters of 2019.
Required:
What should be LAX?s income tax provision in the third-quarter income statement? (AICPA adapted)
Transcribed Image Text:
Estimated Effective Annual Tax Rate at End of Quarter 32% 32% 38% Income Before Income Tax Quarter 1st Provision $70,000 2nd 50,000 Зrd
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