Foxey flowers had income before income tax of 85000 and, Ask an Expert

Accounting

Foxey Flowers had income before income tax of $85,000 and taxable income of $75,000 for 2010, the companys first year of operations. The income tax rate is 35%. Requirements

R1. Make the entry to record Foxes income taxes for 2010.

R2. Show what Foxey Flowers will report on its 2010 income statement, starting with income before income tax.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9963015

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