Information for Kent Corp. for the year 2021 Reconciliation of pretax accounting income and taxable income:...
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Information for Kent Corp. for the year 2021 Reconciliation of pretax accounting income and taxable income: Pretax accounting income Permanent differences. Temporary difference-depreciation Taxable income As of December 31, 2020 As of December 31, 2021 $180,000 Cumulative future taxable amounts all from depreciation temporary differences: $12,600 $25,300 Multiple Choice (16,000) 164,000 (12,700) $151,300 The enacted tax rate was 30% for 2020 and thereafter. What would Kent's income tax expense be in the year 2021? Multiple Choice $49,200. None of these answer choices are correct. $52,700. $45,390. Information for Kent Corp. for the year 2021 Reconciliation of pretax accounting income and taxable income: Pretax accounting income Permanent differences. Temporary difference-depreciation Taxable income As of December 31, 2020 As of December 31, 2021 $180,000 Cumulative future taxable amounts all from depreciation temporary differences: $12,600 $25,300 Multiple Choice (16,000) 164,000 (12,700) $151,300 The enacted tax rate was 30% for 2020 and thereafter. What would Kent's income tax expense be in the year 2021? Multiple Choice $49,200. None of these answer choices are correct. $52,700. $45,390.
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Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson, Wayne Thomas
Posted Date:
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