Marigold Corporation began 2020 with a $39,560 balance in the Deferred Tax Liability account. At the end of 2020, the related cumulative temporary difference amounts to $301,000, and it will reverse evenly over the next 2 years. Pretax accounting income for 2020 is $451,500, the tax rate for all years is 20%, and taxable income for 2020 is $348,300.- (a)Compute income taxes payable for 2020.Income taxes payable eClick if you would like to Show Work for this question: Open Show Work

Tax Rate = 20% Taxable Income for 2020 = $348,300

Marigold Corporation began 2020 with a s39.560 balance in the Deferred Tax Lability acount. At the end of 2020. the related cumulative temporary difference amounts to s301.000. and it will reverse evenly over the net 2 years. Pretax accounting income for 2020 is $451.500. the tax rate for all years is 20%. and taable income for 2020 is s348.300. (a) Compute income taes payable for 2020. Income taes payable Click if you would ke to Show Work for this question: Sh WAds

Marigold Corporation began 2020 with a s39.560 balance in the Deferred Tax Lability acount. At the end of 2020. the related cumulative temporary difference amounts to s301.000. and it will reverse evenly over the net 2 years. Pretax accounting income for 2020 is $451.500. the tax rate for all years is 20%. and taable income for 2020 is s348.300. (a) Compute income taes payable for 2020. Income taes payable Click if you would ke to Show Work for this question: Sh WAds

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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