week 4 team acc423

week 4 team acc423 - $45,500.00 2008 Income Tax Exp...

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Year Pretax income Tax Rate Non-deductible expense Total Income 2007 $280,000  35% $30,000.00 $310,000.00 2008 320,000 40% $30,000.00 $350,000.00 2009 350,000 40% $30,000.00 $380,000.00 2010 420,000 40% $30,000.00 $450,000.00 i) Taxable income for 2007 $180,000 Tax rate 35% Income tax payable $63,000 2007 Income tax exp $108,500 Income tax payable $63,000 Deffered tax liability
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Unformatted text preview: $45,500.00 2008 Income Tax Exp $6,500.00 Deffered Tax Liability $6,500.00 Income Tax Exp Income tax liab 90000 Taxable Income Temporary difference cumulative temp diff $180,000 $130,000.00 $130,000.00 225,000 $125,000.00 $255,000.00 270,000 $110,000.00 $365,000.00 580,000 ($130,000.00) $235,000.00...
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This note was uploaded on 09/14/2010 for the course ACC 429 taught by Professor Whitehurst during the Spring '10 term at Chattanooga State.

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week 4 team acc423 - $45,500.00 2008 Income Tax Exp...

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