For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End Cumulative Taxable Income First $ 1,850,000 Second 2,520,000 Third 3,600,000 What are LNS’s minimum first, second, third, and fourth quarter estimated tax payments, using the annualized income method?
For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End Cumulative Taxable Income First $ 1,850,000 Second 2,520,000 Third 3,600,000 What are LNS’s minimum first, second, third, and fourth quarter estimated tax payments, using the annualized income method?
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 29P
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For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters.
Quarter-End | Cumulative Taxable Income |
---|---|
First | $ 1,850,000 |
Second | 2,520,000 |
Third | 3,600,000 |
What are LNS’s minimum first, second, third, and fourth quarter estimated tax payments, using the annualized income method?
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