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At the beginning of 2012, Annie, Inc. has a deferred tax asset of 7,500

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Question;At the beginning of 2012, Annie, Inc. has a deferred tax asset of 7,500 and deferred tax liability of 10,500. In 2012, pretax financial income was 826,000 and the tax rate was 35%.Pretax income included:interest income from municipal bonds 15,000accured warranty costs, estimated to be used in 2013 74,000prepaid rend expense, will be used in 2013 31,000installment sales revenue, to be collected in 2013 56,000operating loss carryforward 71,000what is the taxable income for 2012?

 

Paper#40000 | Written in 18-Jul-2015

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