Depreciation temporary differences

Assignment Help Accounting Basics

Reference no: EM13973851

Information for Kent Corp for the year 2013:

Reconciliation of pretax accounting income and taxable income:

Pretax Accounting Income	181300
Permanent Differences	(14700)
	166600
Temp differences-depreciation	(11300)
Taxable Incomeq	155300

Cumulative future taxable amounts all from depreciation temporary differences:

As of Dec 31 2012, 12700

As of Dec 31 2013 24000

The enacted tax rate was 21% for 2012 and thereafter:

What should Kent report as the current portion of its income tax expense in the year 2013

A. 32613

B. 34986

C. 38073

D. none of these

Reference no: EM13973851

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