Frey corporation income statement for the year ended

Assignment Help Accounting Basics

Reference no: EM13597158

Frey corporation income statement for the year ended december 31,2005, shows pretax income of $1,000,000. the following items are treated differently on the tax return and in the accounting records:

tax return accounting records
rent income $70,000 $120,000
depreciation expense 270,000 220,000
premiums on officers life insurance _ 90,000

Assume that freys tax rate for 2005 is 30%. what is the amount of income tax payable for 2004?

Reference no: EM13597158

Questions Cloud

Swanton company currently sells 3 products and details of : swanton company currently sells 3 products and details of revenues and costs are given below. the company is thinking

Using what you know about how melting point helps determine : you are given a sample which is either pure benzoic acid melting point 122.5 c or pure 2-naphthol mp123 c. using what

In 2011 dick even and fran form triton corporation dick : in 2011 dick even and fran form triton corporation dick contributes land a capital asset having a 50000 fmv in exchange

You have 750 ml of a 250 m solution of na2cro4aq you also : you have 75.0 ml of a 2.50 m solution of na2cro4aq. you also have 125 ml of a 2.50 m solution of agno3aq. calculate the

Frey corporation income statement for the year ended : frey corporation income statement for the year ended december 312005 shows pretax income of 1000000. the following

Three hundred gallons of a mixture containing 750 wt : three hundred gallons of a mixture containing 75.0 wt ethanol and 25 water mixture specific gravity 0.877 and a

Prestopinos management is trying to analyze the effect of a : prestopino corporation produces motorcycle batteries. prestopino turns out 1500 batteries a day at a cost of 5 per

How is the first graph the correct answer for letter : how is the first graph the correct answer for letter d?depreciation of equipment where the amount is computed by the

Chlorination of ethane yields in addition to ethyl : chlorination of ethane yields in addition to ethyl chloride a mixture of two isomeric dichlorides. what are the

User Account

All Pages