Reports as a net loss for financial reporting purposes

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Reference no: EM13793615

Khan, Inc. reports a taxable and financial loss of $1,950,000 for 2015. Its pretax financial income for the last two years was as follows:

2013 $900,000

2014 1,200,000

The amount that Khan, Inc. reports as a net loss for financial reporting purposes in 2015, assuming that it uses the carry back provisions, and that the tax rate is 30% for all periods affected, is

Reference no: EM13793615

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Reports as a net loss for financial reporting purposes : Khan, Inc. reports a taxable and financial loss of $1,950,000 for 2015. Its pretax financial income for the last two years was as follows: The amount that Khan, Inc. reports as a net loss for financial reporting purposes in 2015, assuming that it use..

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