Assume that The Bell Company operates in an industry for which NOL carryback is allowed. The Bell
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Assume that The Bell Company operates in an industry for which NOL carryback is allowed. The Bell Company had the following operating results: Year Income (loss) Tax rate Income tax 2018 40,000 25 % 10,000
2019 40,000 25 % 10,000
2020 50,000 30 % 15,000
2021 (130,000 ) 30 % 0
What is the income tax refund receivable?
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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