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Compute taxable income for 2022. Taxable income 252.185.71

Compute taxable income for 2022. Taxable income 252.185.71

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting 

* Your answer is incorrect. Compute taxable income for 2022. Taxable income £ eTextbook and Media List of Accounts Save for Later 252.185.71 Attempts: 1 of 2 used Submit Answer
Transcribed Image Text:* Your answer is incorrect. Compute taxable income for 2022. Taxable income £ eTextbook and Media List of Accounts Save for Later 252.185.71 Attempts: 1 of 2 used Submit Answer
The following information is available for Sarasota pic for 2022. Excess of tax depreciation over book depreciation, £37,200. This £37,200 difference will reverse equally over the years 2023-2026. 1. 2 3. Deferral, for book purposes, of £21,400 of rent received in advance. The rent will be recorded as revenue in 2023. Pretax financial income, £274,100. There are no deferred taxes at the beginning of 2022. Tax rate for all years, 40%
Transcribed Image Text:The following information is available for Sarasota pic for 2022. Excess of tax depreciation over book depreciation, £37,200. This £37,200 difference will reverse equally over the years 2023-2026. 1. 2 3. Deferral, for book purposes, of £21,400 of rent received in advance. The rent will be recorded as revenue in 2023. Pretax financial income, £274,100. There are no deferred taxes at the beginning of 2022. Tax rate for all years, 40%
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