Stone Company reported pre-tax book income of $700,000 for book purposes in 2015, the first year of operation. The tax depreciation exceeded its book depreciation by $90,000. The tax rate for 2015 and all future years was 30%.
-If Stone paid no estimated taxes,what amount of income taxes payable should Stone report in its December 31,2015,balance sheet?
A) $150,000
B) $160,000
C) $183,000
D) $210,000
Correct Answer:
Verified
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