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- nkt.3Note: the answer is not 451200.At December 31, 2022, Ivanhoe Corporation had a temporary difference (related to pensions) and reported a related deferred tax asset of $32,700 on its balance sheet. At December 31, 2023, Ivanhoe has five temporary differences. An analysis reveals the following: Future (Taxable) Deductible Amounts emporary Difference oks; deductible when funded for tax purposes 2024 2025 2026 $32,700 $22,700 $10,000 earned for accounting purposes and when received for tax purposes 76,000 accounting purposes and recognized for tax purposes when paid alment sales when sold for book purposes, and as collected for tax purposes 24,000 (36,300) (36,300) (36,300) iting purposes, and CCA for tax purposes (90,300) (50,000) (40,000) $6,100 ($63,600) ($66,300) The enacted tax rate has been 30% for many years. In November 2023, the rate was changed to 28% for all periods after January 1, 2025. Assume that the company has income tax due of $180,000 on the 2023 tax return and that Ivanhoe follows IFRS. (a) Indicate…
- Trey, Inc. reports a taxable loss of 5210.000 for 2022. Its taxable income for the last two years was as föllows: 2020 2021 $60,000 80,000 Trey expects tavable income in future years and has a tax rate of 30% for all periods affected. The amount that Trey, Inc. reports as a net loss for Inardal reporting purposes in 2022 is: Seet one 74 ST00000 loss 0 S108000 loss OL 147000 loss 04 ST0000 loss O210000 lossPT BCD has a deferred tax asset account with a balance of Rp300.000 at the end of 2018 due to a single cumulative temporary difference of Rp750.000. At the end of 2019, this same temporary difference has increased to a cumulative amount of Rp1.000.000. Taxable income for 2019 is Rp1.700.000. The tax rate is 40% for all years. Assuming it’s probable that 70% of the deferred tax asset will be realized, what amount will be reported on ABC’s statement of financial position for the deferred tax asset at December 31, 2019?The following facts relate to Carla Vista Corporation 1. Deferred tax liability, January 1, 2025 $28,000 2. Deferred tax asset, January 1, 2025 $0 3. Taxable income for 2025, $114,000 4. Pretax financial income for 2025 $220,000 5. Cumulative temporary difference at December 31, 2025, giving rise to future taxable amounts, $288,0000 6. Cumulative temporary difference at December 31, 2025, giving rise to future deductible amounts $42,000 7. Tax rate for all years 20% 8. The company is expected to operate profitably in the future. Compute income taxes payable for 2025
- True/False 7. Interest paid or accrued during 2018 on aggregate acquisition indebtedness of $2 million or less ($1 million or less for married persons filing separate returns) is deductible as qualified residence interest.If the taxpayer materially participated in an activity for any __5_ of the _10__taxable years that immediately precede the current taxable year, the taxpayer is treated as so participating during the current taxable year as well. Explain this sentence.please help me find the write answer for rhe ones that are wrong (red boxes) thank you
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