In 2013 ryan management collected rent revenue for 2014

Reference no: EM13484710

In 2013, Ryan Management collected rent revenue for 2014 tenant occupancy. For financial reporting, the rent is recognized as income in the period earned, but for income tax reporting it is taxed when collected. The unearned portion of the rent collected in 2013 was $40 million and $30 million at the end of 2014. Taxable income is $120 million. No temporary differences existed at the beginning of the year, and the tax rate is 30%. Prepare the appropriate journal entry to record income taxes for 2014.

Reference no: EM13484710

Questions Cloud

Direct materials used 29000 direct labor 17000 variable : company has no beginning and ending inventories and reports the following information about its only productdirect

Compare the advantages of competitive bidding for a : compare the advantages of competitive bidding for a general contractor with negotiated cost plus fee. what is the

If the historical cost of product x is 64 the selling price : if the historical cost of product x is 64 the selling price product x is s90 the costs to sell product x are s14 the

In selecting an architect what must a developer consider : in selecting an architect what must a developer consider about the architect besides design credentials and relevant

In 2013 ryan management collected rent revenue for 2014 : in 2013 ryan management collected rent revenue for 2014 tenant occupancy. for financial reporting the rent is

On january 1 2007 charles jamison borrows 40000 from his : on january 1 2007 charles jamison borrows 40000 from his father to open a business. the son is the beneficiary of a

Mr farrow is familiar with your reputation for brilliant : steven farrow is considering opening a franchise liquor store next to a new retail shopping center based on historical

List at least five ways that a developer may attempt to : list at least five ways that a developer may attempt to reduce the risks of the permitting

Why is the permitting stage of development often the : why is the permitting stage of development often the riskiest stage of the

User Account

All Pages