Tazmania Inc. had pretax financial income of $154,000 in 2008. Included in the computation of that amount
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Tazmania Inc. had pretax financial income of $154,000 in 2008. Included in the computation of that amount is insurance expense of $4,000 which is not deductible for tax purposes. In addition, depreciation for tax purposes exceeds accounting depreciation by $14,000. Prepare Tazmania’s journal entry to record 2008 taxes, assuming a tax rate of 45%.
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Income Tax Expense 71100 In...View the full answer
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Related Book For 
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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