In 2010 amirante corporation had pretax financial income of, Ask an Expert

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In 2010, Amirante Corporation had pretax financial income of $168,000 and taxable income of $120,000. The difference is due to the use of different depreciation methods for tax and accounting purposes. The effective tax rate is 40%. Compute the amount to be reported as income taxes payable at December 31, 2010.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797049

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