In 2011 bodily corporation reported 240000 pretax, Ask an Expert

Accounting

In 2011, Bodily Corporation reported $240,000 pretax accounting income. The income tax rate for that year was 26%. Bodily had an unused $110,000 net operating loss carryforward from 2009 when the tax rate was 33%. Bodily's income tax payable for 2011 would be?

A. $ 34,900

B. $ 33,800

C. $ 62,400

D. $ 42,900

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962006

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