At Blossom Company, events and transactions during 2020 included the following. The tax rate for all...
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At Blossom Company, events and transactions during 2020 included the following. The tax rate for all items is 20%. (1) Depreciation for 2018 was found to be understated by $120100. (2) A strike by the employees of a supplier resulted in a loss of $108600. (3) The inventory at December 31, 2018 was overstated by $151800. (4) A disposal of a component of the business resulted in a $1986000 loss. The effect of these events and transactions on 2020 net income net of tax would be ($1675680). ($1893200). ($1742800). ($87380). At Blossom Company, events and transactions during 2020 included the following. The tax rate for all items is 20%. (1) Depreciation for 2018 was found to be understated by $120100. (2) A strike by the employees of a supplier resulted in a loss of $108600. (3) The inventory at December 31, 2018 was overstated by $151800. (4) A disposal of a component of the business resulted in a $1986000 loss. The effect of these events and transactions on 2020 net income net of tax would be ($1675680). ($1893200). ($1742800). ($87380).
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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