Moore Company reported the following operating results during its first three years of operations: 2016 Pretax operating loss $\quad $$ (40,000)
2017 Pretax operating loss $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $(200,000)
2018 Pretax operating income $\quad $ $\quad $ $\quad $ $\quad $ $\quad $$ 300,000
No permanent or temporary differences occurred during these fiscal periods. Assuming an income tax rate of 35%, what is the amount of current income tax liability that Moore should report as of December 31, 2018?

Question

Moore Company reported the following operating results during its first three years of operations: 2016 Pretax operating loss  $\quad $$ (40,000)
2017 Pretax operating loss $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $(200,000)
2018 Pretax operating income  $\quad $ $\quad $ $\quad $ $\quad $ $\quad $$ 300,000
No permanent or temporary differences occurred during these fiscal periods. Assuming an income tax rate of 35%, what is the amount of current income tax liability that Moore should report as of December 31, 2018?

Quizplus · Accepted Answer

The Answer of Moore Company reported the following operating results during its first three years of operations: 2016 Pretax operating loss  $\quad $$ (40,000)
2017 Pretax operating loss $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $(200,000)
2018 Pretax operating income  $\quad $ $\quad $ $\quad $ $\quad $ $\quad $$ 300,000
No permanent or temporary differences occurred during these fiscal periods. Assuming an income tax rate of 35%, what is the amount of current income tax liability that Moore should report as of December 31, 2018?

Moore Company Reported the Following Operating Results During Its First \quad

Moore Company Reported the Following Operating Results During Its First $\quad$