Solution-Discuss what amount should be reported as income

Discuss what amount should be reported as income tax refund

Reference no: EM131773354

PQR Company reported income before taxes of $175,000 for the years 2013, 2014, and 2015. In 2016 they experienced a loss of $300,000. PQR had a tax rate of 25% in 2013 and 2014, and a rate of 35% is 2015 and 2016. Assuming the company uses the carryback provisions for the net operating loss, what amount should be reported as Income Tax Refund Receivable in 2016?

Reference no: EM131773354

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Discuss what amount should be reported as income tax refund

Reference no: EM131773354

Reference no: EM131773354

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