Assuming the following facts, calculate the total tax provision Sales $100,000 Pre-tax book net income 75,000 Entertainment 5,000 Book depreciation 20,000 Tax depreciation 50,000 Tax rate 21%
Assuming the following facts, calculate the total tax provision Sales $100,000 Pre-tax book net income 75,000 Entertainment 5,000 Book depreciation 20,000 Tax depreciation 50,000 Tax rate 21%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1.
- Assuming the following facts, calculate the total tax provision
Sales $100,000
Pre-tax book net income 75,000
Entertainment 5,000
Book
Tax depreciation 50,000
Tax rate 21%
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