4,000,000. The difference is due to rental received in advance. Rental income is taxable when received. The income tax rate is 32% and Suga Dadi Co. made estimated tax payment during of 1,000,000 in 201X. What should Suga Dadi Co. report as 201X total tax income expense?
4,000,000. The difference is due to rental received in advance. Rental income is taxable when received. The income tax rate is 32% and Suga Dadi Co. made estimated tax payment during of 1,000,000 in 201X. What should Suga Dadi Co. report as 201X total tax income expense?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For the year ended Dec. 31, 201X, Suga Dadi Co. reported pre-tax financial income of 12,000,000. Its taxable income was 14,000,000. The difference is due to rental received in advance. Rental income is taxable when received. The income tax rate is 32% and Suga Dadi Co. made estimated tax payment during of 1,000,000 in 201X. What should Suga Dadi Co. report as 201X total tax income expense?
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