30. 31. 32. 33. 34. At the end of 2021, ABC paid $84,000 in advance for...

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30. 31. 32. 33. 34. At the end of 2021, ABC paid $84,000 in advance for the 3-year lease of a building during years 2022-2024. Taxable income in 2021 is $378,000 and the tax rate applicable to all years is 18%. Pretax accounting income in 2021 is Tax expense in 2021 is The balance of the associated deferred tax account at the end of 2022 is In its first year of operations, ABC created a DTA of $135,000. ABC determines that it is more likely than not that only 70% of the DTA will be realized. In creating a valuation allowance for the DTA, net income decreases by [Enter as a positive value.] ABC has pretax accounting income of $32,600. ABC's depreciation for tax purposes was $24,450 while depreciation for financial reporting was $9,780. ABC accrued warranty expense of $22,820 while cash paid to honor existing warranties totaled $15,974. Taxable income is 30. 31. 32. 33. 34. At the end of 2021, ABC paid $84,000 in advance for the 3-year lease of a building during years 2022-2024. Taxable income in 2021 is $378,000 and the tax rate applicable to all years is 18%. Pretax accounting income in 2021 is Tax expense in 2021 is The balance of the associated deferred tax account at the end of 2022 is In its first year of operations, ABC created a DTA of $135,000. ABC determines that it is more likely than not that only 70% of the DTA will be realized. In creating a valuation allowance for the DTA, net income decreases by [Enter as a positive value.] ABC has pretax accounting income of $32,600. ABC's depreciation for tax purposes was $24,450 while depreciation for financial reporting was $9,780. ABC accrued warranty expense of $22,820 while cash paid to honor existing warranties totaled $15,974. Taxable income is

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Question Answer 30 Taxable income 378000 Add Difference in prepaid lea... View the full answer