FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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IMPORTANT: PLEASE SEE IMAGE, ANSWER PART B CORRECTLY AND ILL LIKE YOUR ANSWER. I attached part a for guidance THANK YOU!
Bramble Company has the following two temporary differences between its income tax expense and income taxes payable.
2020
|
2021
|
2022
|
|||||||
Pretax financial income |
$816,000
|
$925,000
|
$930,000
|
||||||
Excess |
(30,200
|
)
|
(40,900
|
)
|
(10,200
|
)
|
|||
Excess warranty expense in financial income |
20,800
|
9,700
|
8,000
|
||||||
Taxable income |
$806,600
|
$893,800
|
$927,800
|
The income tax rate for all years is 20%.
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