Pearsall Telecom had the following lines in Income Taxes footnote: Insurance Receivables Depreciation Other Total Deferred Tax Liabilities Deferred Tax Liabilities 12/31/2012 12/31/2011 S(60) S(858) S(808) $(1,726) $(63) $(745) $(883) $(1,691) Pearsall Telecom had the following lines in its Statement of Cash Flows: Net Income Depreciation 2012 $4,511 $1,288 2011 $4,357 $1,236 Pearsall Telecom is a US company with a 35% Federal Statutory Tax Rate. What was Pearsall Telecom's depreciation expense for tax purposes in fiscal year 2012? $1,288 $1,401 $965 $1,175 $1,611

Pearsall Telecom had the following lines in Income Taxes footnote: Insurance Receivables Depreciation Other Total Deferred Tax Liabilities Deferred Tax Liabilities 12/31/2012 12/31/2011 S(60) S(858) S(808) $(1,726) $(63) $(745) $(883) $(1,691) Pearsall Telecom had the following lines in its Statement of Cash Flows: Net Income Depreciation 2012 $4,511 $1,288 2011 $4,357 $1,236 Pearsall Telecom is a US company with a 35% Federal Statutory Tax Rate. What was Pearsall Telecom's depreciation expense for tax purposes in fiscal year 2012? $1,288 $1,401 $965 $1,175 $1,611

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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