Eden Company had pretax accounting income of $24,000 during 2011. Eden's only temporary difference for 2008 relates to a sale made in 2009 and recognized for accounting purposes at that time. However, Eden uses the installment sales method of revenue recognition for tax purposes. During 2011 Eden collected a receivable from the 2009 sale which resulted in $6,000 of income under the installment sales method. Eden's taxable income for 2011 would be

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The Answer of Eden Company had pretax accounting income of $24,000 during 2011. Eden's only temporary difference for 2008 relates to a sale made in 2009 and recognized for accounting purposes at that time. However, Eden uses the installment sales method of revenue recognition for tax purposes. During 2011 Eden collected a receivable from the 2009 sale which resulted in $6,000 of income under the installment sales method. Eden's taxable income for 2011 would be

Eden Company Had Pretax Accounting Income of $24,000 During 2011