A company has income before tax of $350,000,which includes a permanent difference of $65,000 relating to non-taxable dividend income.There are no other permanent or temporary differences.The income tax rate is 45%.
Requirement:
Compute the amount of taxes payable and income tax expense.

Question

Quizplus · Accepted Answer

The Answer of A company has income before tax of $350,000,which includes a permanent difference of $65,000 relating to non-taxable dividend income.There are no other permanent or temporary differences.The income tax rate is 45%.
Requirement:
Compute the amount of taxes payable and income tax expense.

A Company Has Income Before Tax of $350,000,which Includes a Permanent