At the end of the year, Shamrock Co. has pretax financial income of $538,000. Included in the
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At the end of the year, Shamrock Co. has pretax financial income of $538,000. Included in the $538,000 is $65,000 interest income on municipal bonds, $24,000 fine for dumping hazardous waste, and depreciation of $62,800. Depreciation for tax purposes is $47,100. Compute income taxes payable, assuming the tax rate is 30% for all periods.
Income Taxes Payable: $ _________
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
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