Item6 Item 6 Information for Kent Corporation for the year 2024: Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 179,800 Permanent differences (16,300) 163,500 Temporary difference - depreciation (13,400) Taxable income $ 150, 100 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2023 S 14, 300 As of December 31, 2024 S 27,700 The enacted tax rate was 26% for 2023 and thereafter. What should Kent report as the current portion of its income tax expense in the year 2024?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Item6 Item 6 Information for Kent Corporation for the year 2024: Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 179,800 Permanent differences
(16,300) 163,500 Temporary difference - depreciation (13,400) Taxable income $ 150, 100 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2023 $
14,300 As of December 31, 2024 $ 27,700 The enacted tax rate was 26% for 2023 and thereafter. What should Kent report as the current portion of its income tax expense in the year 2024?
Transcribed Image Text:Item6 Item 6 Information for Kent Corporation for the year 2024: Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 179,800 Permanent differences (16,300) 163,500 Temporary difference - depreciation (13,400) Taxable income $ 150, 100 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2023 $ 14,300 As of December 31, 2024 $ 27,700 The enacted tax rate was 26% for 2023 and thereafter. What should Kent report as the current portion of its income tax expense in the year 2024?
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