The following information is provided calculate taxable income: Income before taxes=900,000 Income before taxes includes the following: Interest…

The following information is provided calculate taxable income:Income before taxes=900,000Income before taxes includes the following:Interest income of $80,000 from municipal bonds.Rental Income collected in advance in 2011 and earned in 2012=$20,000A piece of equipment was purchased in 2012. Depreciated per books for $40,000 and per income taxes for $100,000.Warranty expense in 2012 was $200,000 but for tax purposes only $6,000 was deductible.Assume that at the beginning of 2012 deferred tax asset=$8,000 due to the rental income.Tax rate for 2012 and foreseeable future is 30%.Requirement:A.Calculate taxable incomeB.Make the necessary tax entry, including the amounts for tax expense and deferred taxes.

A.Calculate taxable incomeParticularsIncome before taxesAdd Rental incomeAdd difference in warranty expensesLess difference in depreciationTaxable income Amount $900,00020,000194,000…

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more