GFH had pre-tax accounting income of $5,600 during 2014.GFH used accelerated depreciation for tax purposes ($4,000)and straight-line depreciation for financial accounting purposes ($800).During 2014 GFH accrued warranty expenses of $3,600 and paid $2,000 cash to honour warranties.GFH's taxable income for 2014 would be (show calculations):

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The Answer of GFH had pre-tax accounting income of $5,600 during 2014.GFH used accelerated depreciation for tax purposes ($4,000)and straight-line depreciation for financial accounting purposes ($800).During 2014 GFH accrued warranty expenses of $3,600 and paid $2,000 cash to honour warranties.GFH's taxable income for 2014 would be (show calculations):

GFH Had Pre-Tax Accounting Income of $5,600 During 2014