Information for Kent Corp. for the year 2022: Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 180,000 Permanent differences (15,000 ) 165,000 Temporary difference-depreciation (12,000 ) Taxable income $ 153,000 The enacted tax rate was 30% for 2022 and thereafter. What would Kent's income tax expense be in the year 2022? A) $42,300. B) $45,900. C) $49,500. D) None of these answer choices are correct.
Information for Kent Corp. for the year 2022: Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 180,000 Permanent differences (15,000 ) 165,000 Temporary difference-depreciation (12,000 ) Taxable income $ 153,000 The enacted tax rate was 30% for 2022 and thereafter. What would Kent's income tax expense be in the year 2022? A) $42,300. B) $45,900. C) $49,500. D) None of these answer choices are correct.
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 4BCRQ
Related questions
Question
) Information for Kent Corp. for the year 2022:
Reconciliation of pretax accounting income and taxable income:
|
|
|
|
|
|
|
Pretax accounting income |
$ |
180,000 |
|
|
|
Permanent differences |
|
(15,000 |
) |
|
|
|
|
165,000 |
|
|
|
Temporary difference- |
|
(12,000 |
) |
|
|
Taxable income |
$ |
153,000 |
|
|
The enacted tax rate was 30% for 2022 and thereafter.
What would Kent's income tax expense be in the year 2022?
- A) $42,300.
- B) $45,900.
- C) $49,500.
- D) None of these answer choices are correct.
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