The following information is available for Whispering Inc. for 2019: 1. Excess of tax depreciation over book depreciation, $77,200. This $77,200 difference will reverse eq years. 2. Deferral, for book purposes, of $26,000 of subscription income received in advance. The subscriptio earned in 2020. 3. Pretax financial income, $206,000. 4. Tax rate for all years, 20%. (a) Compute taxable income for 2019.
The following information is available for Whispering Inc. for 2019: 1. Excess of tax depreciation over book depreciation, $77,200. This $77,200 difference will reverse eq years. 2. Deferral, for book purposes, of $26,000 of subscription income received in advance. The subscriptio earned in 2020. 3. Pretax financial income, $206,000. 4. Tax rate for all years, 20%. (a) Compute taxable income for 2019.
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 56P
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