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just olya [345]
2 years ago
5

Pumpkin Company, during its first year of operations in 2016, reported taxable income of $170,000 and pretax financial income of

$100,000. The difference between taxable income and pretax financial income was caused by two timing differences: excess depreciation on tax return, $70,000; and warranty expenses in excess of warranty payments, $40,000. These two timing differences will reverse in the next three years as follows:
Year Depreciation Warranty Expense
2017 $10,000 $20,000
2018 $20,000 $16,000
2019 $40,000 $4,000

Enacted tax rates are:

2017 30%
2018 35%
2019 40%

Required:
Prepare the income tax journal entry for December 31, 2016.
Business
1 answer:
Brums [2.3K]2 years ago
6 0

Answer:

bwkshddhksm mujhe nahi paatbakwbwjwhdhwjsbsjbs

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Data is oftentimes considered a defensible source of competitive advantage; however, advantages based on capabilities and data that others can acquire will be short lived.

<h3>What is data?</h3>

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