Question 1 the following information is available for wenger
Question 1 The following information is available for Wenger Corporation for 2013. 1. Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will reverse equally over the years 2014–2017. 2. Deferral, for book purposes, of $20,000 of rent received in advance. The rent will be earned in 2014. 3. Pretax financial income, $300,000. 4. Tax rate for all years, 40%. Compute taxable income for 2013. Prepare the journal […]