Received rent from ruck in 2019 $87,000 Municipal bond income $111,000 Depreciation for tax purposes in excess of book depreciation $51,000 Installment sales profit to be taxed in 2019 $153,000 Tubom had pre tax accounting income of $1,800,000 and a tax rate of 30% in 2018 its first year of operations. For 2018, what is the amount of income taxes payable?

Received rent from ruck in 2019 $87,000 Municipal bond income $111,000 Depreciation for tax purposes in excess of book depreciation $51,000 Installment sales profit to be taxed in 2019 $153,000 Tubom had pre tax accounting income of $1,800,000 and a tax rate of 30% in 2018 its first year of operations. For 2018, what is the amount of income taxes payable?

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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rmn.2
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