Given the following data, how much tax would be reported under the taxes payable method for fiscal
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Question:
Given the following data, how much tax would be reported under the taxes payable method for fiscal 2014?
F2014 F2015 F2016
Income before tax 130000 120000 130000
Taxable Income 75000 85000 106000
Tax rate 30% 25% 20%
(Show calculations)
Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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