Sunland, Inc. had pre-tax accounting income of $3300000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company had the following transactions: Received rent from Jane, Co. for 2022 $102000 Municipal bond income $126000 Depreciation for tax purposes in excess of book depreciation $66000 Installment sales profit to be taxed in 2022 $168000 For 2021, what is the amount of income taxes payable for Sunland, Inc?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Sunland, Inc. had pre-tax accounting income of $3300000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company had the following transactions:

Received rent from Jane, Co. for 2022 $102000
Municipal bond income $126000
Depreciation for tax purposes in excess of book depreciation $66000
Installment sales profit to be taxed in 2022 $168000


For 2021, what is the amount of income taxes payable for Sunland, Inc?

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