What should tringali report as its income tax expense, Accounting Basics

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What should tringali report as its income tax expense

For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income $340,000 Permanent difference (14,500) 325,500 Temporary difference-depreciation (19,900) Taxable income $305,600 Tringali's tax rate is 36%.

What should Tringali report as its income tax expense for its first year of operations?

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Accounting Basics: What should tringali report as its income tax expense

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Q : What should tringali report as its income tax expense

Pretax accounting income $340,000 Permanent difference (14,500) 325,500 Temporary difference-depreciation (19,900) Taxable income $305,600 Tringali's tax rate is 36%.

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Accounting Basics: What should tringali report as its income tax expense

Reference No:- TGS0696629

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What should tringali report as its income tax expense

Reference No:- TGS0696629

Recent Questions Asked Accounting Basics

Q : Discuss the need for an accounting standards-setting body

Q : How much is budgeted sales revenue

Q : How reducting all expenses except depreciation

Q : Ideal gas law and van der waals equation of state

Q : What should tringali report as its income tax expense

Q : Using the appropriate foreign currency conversion

Q : Explain the designer and manufacturer of prom dresses

Q : Problem based on uniform magnetic field

Q : Prepare journal entries to record the sale of merchandise

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