Learning Objective 3: Account for a corporation’s income tax) The accounting (not the income tax)…

Learning Objective 3: Account for a corporation’s income tax) The accounting (not the income tax) records of Kaska Publications, Inc., provide the income statement for 2014.

 

Taxable income for 2014 includes these modifications from pre-tax accounting income: a. Additional taxable income of $16,000 earned in 2015 but taxed in 2014 b. Additional depreciation expense of $38,000 for MACRS tax depreciation in 2014

 

 

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