Messages
Proposals
Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.
Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support
The following information is available for Remmers Corporation for 2014.
1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $120,000 This difference will reverse in equal amounts of $30,000 over the years 2015-2018.
2. Interest received on municipal bonds was $10,000
3. Rent collected in advance on January 1, 2014, totalled $60,000 for a 3-year period. Of this amount, $40,000 was reported as unearned at December 31, 2014, for book purposes.
4. The tax rates are 40% for 2014 and 35% for 2015 and subsequent years.
5. Income taxes of $320,000 are due per the tax return for 2014.
6. No deferred taxes existed at the beginning of 2014.
Instructions
(a) Compute taxable income for 2014.
(b) Compute pretax financial income for 2014.
(c) Prepare the journal entries to record income tax expense, deferred income taxes, and income taxes payable for 2014 and 2015. Assume taxable income was $980,000 in 2015.
(d) Prepare the income tax expense section of the income statement for 2014, beginning with "Income before income taxes."
| Writer | Writer Name | Amount | Client Comments & Rating |
|---|---|---|---|
ONLINE |
Instant Homework Helper |
$36 |
She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up! |
Custom Original Solution And Get A+ Grades
Custom Original Solution And Get A+ Grades
Custom Original Solution And Get A+ Grades
| Writer | Writer Name | Offer | Chat |
|---|---|---|---|
ONLINE |
Essay Writing HelpI am a qualified and experienced Writer, Researcher, Tutor, analyst and Consultant. I hold MBA (Strategic Management) (Finance and Marketing) & CPA.K (Accounting and Finance.) |
$62 | Chat With Writer |
ONLINE |
Top Grade EssayWorking on this platform from a couple of time with exposure of dynamic writing skills gathered with years experience on different other websites. |
$62 | Chat With Writer |
Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.