Solved: Bodily had an unused 110000 net operating loss carryforward, Accounting Basics

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Bodily had an unused 110000 net operating loss carryforward

Question - 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: Bodily had an unused 110000 net operating loss carryforward

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Accounting Basics: Bodily had an unused 110000 net operating loss carryforward

Reference No:- TGS02598221

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