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For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Cumulative Taxable Income Quarter- End First Second Third $ Installment What are LNS's minimum first, second, third, and fourth quarter estimated tax payments determined using the annualized income method? (Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for Fourth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount.) First quarter Second quarter Third quarter 1,590,000 2,430,000 Fourth quarter 3,570,000 Taxable Annualization Income Factor Annual Tax on Est. estimated Taxable taxable Income income Percentage of Tax Required To Be Paid % % % % Required Prior Cumulative Cumulative Payment Payments Required Estimated Tax Payment

For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Cumulative Taxable Income Quarter- End First Second Third $ Installment What are LNS's minimum first, second, third, and fourth quarter estimated tax payments determined using the annualized income method? (Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for Fourth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount.) First quarter Second quarter Third quarter 1,590,000 2,430,000 Fourth quarter 3,570,000 Taxable Annualization Income Factor Annual Tax on Est. estimated Taxable taxable Income income Percentage of Tax Required To Be Paid % % % % Required Prior Cumulative Cumulative Payment Payments Required Estimated Tax Payment

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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For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Cumulative Taxable Income Quarter- End First Second Third $ Installment First quarter What are LNS's minimum first, second, third, and fourth quarter estimated tax payments determined using the annualized income method? (Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for Fourth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount.) Second quarter Third quarter 1,590,000 Fourth quarter 2,430,000 3,570,000 Taxable Annualization Income Factor Tax on estimated Annual Est. Taxable taxable Income income Percentage of Tax Required To Be Paid % % % % Required Prior Cumulative Cumulative Payment Payments Required Estimated Tax Payment
Transcribed Image Text:For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Cumulative Taxable Income Quarter- End First Second Third $ Installment First quarter What are LNS's minimum first, second, third, and fourth quarter estimated tax payments determined using the annualized income method? (Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for Fourth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount.) Second quarter Third quarter 1,590,000 Fourth quarter 2,430,000 3,570,000 Taxable Annualization Income Factor Tax on estimated Annual Est. Taxable taxable Income income Percentage of Tax Required To Be Paid % % % % Required Prior Cumulative Cumulative Payment Payments Required Estimated Tax Payment
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