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How much income after taxes should the company report

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Question - A company provides April cleaning services and charges the client $100,000. The client pays 20% of the charge in April and will pay the rest in May. The company incurs material and other expenses of $20,000 in April and will pay related labor costs of $40,000 in May. The company's effective tax rate is 30%. How much income after taxes should the company report for the month of April, based on accrual accounting?

Reference no: EM133033781

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