TDB Limited has prepared the following information for the current year. The company has paid all...

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TDB Limited has prepared the following information for the current year. The company has paid all income taxes related to prior years but has paid no income tax for the current year. Income from continuing business 160,000 Loss from discontinued business before tax Income tax rate 48,000 20% In the blank box below, please provide the amount asked for (when entering amounts please do not use commas, negative signs or dollar signs or cents - please round your answer to the nearest dollar). Blank 1: The amount of income tax that the company owes the government at the end of the current year. 41600 TDB Limited has prepared the following information for the current year. The company has paid all income taxes related to prior years but has paid no income tax for the current year. Income from continuing business 160,000 Loss from discontinued business before tax Income tax rate 48,000 20% In the blank box below, please provide the amount asked for (when entering amounts please do not use commas, negative signs or dollar signs or cents - please round your answer to the nearest dollar). Blank 1: The amount of income tax that the company owes the government at the end of the current year. 41600

Answer rating: 100% (QA)

Taxable income can be computed as Income from continuing business Loss from ... View the full answer