Answered: A company has a taxable income of…

A company has a taxable income of $500,000. The corporate tax rate is 30%. What is the amount of corporate tax the company must pay? Options: A. $120,000 B. $130,000 C. $150,000 D. $160,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 9MC: A company has pre-tax or operating income of $120,000. If the tax rate is 40%, what is the companys...

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What is the amount of corporate tax the company must pay for this accounting question?

A company has a taxable income of $500,000. The corporate tax rate is
30%. What is the amount of corporate tax the company must pay?
Options:
A. $120,000
B. $130,000
C. $150,000
D. $160,000

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