Question: Question 3 (4 points) Daze Inc. reports the following information at year end: Carrying value of capital assets Tax value of capital assets Unearned rent

 Question 3 (4 points) Daze Inc. reports the following information at

Question 3 (4 points) Daze Inc. reports the following information at year end: Carrying value of capital assets Tax value of capital assets Unearned rent revenue* Development costs incurred Amortization of development costs Golf membership dues $1,670,000 $1,560,000 $60,000 $225,000 $45,000 $3,000 *The unearned rent revenue amount represents collections in advance for the 2 months a end. Rent revenue is taxable in the year it was collected. Development costs are deducti when paid. Required: Calculate the total temporary difference for income tax purposes. (4 marks) Format v BI U FEB @ 23 tv

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!