User Account

All Pages

What is the amount of income taxes payable for crane

Assignment Help Accounting Basics
Reference no: EM132808058

Crane, Inc. had pre-tax accounting income of $3800000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company had the following transactions:

Received rent from Jane, Co. for 2022                               $107000
Municipal bond income                                                    $131000
Depreciation for tax purposes in excess of book depreciation  $71000
Installment sales profit to be taxed in 2022                         $173000

problem 1: For 2021, what is the amount of income taxes payable for Crane, Inc?

A. $663600

B. $706400

C. $732600

D. $804000

Reference no: EM132808058

Questions Cloud

Find how much of the money will each partner receive : Find how much of this money will each partner receive if profits and losses are allocated to Adams, Baker, Carvil, and Dobbs on a 1:3:3:3 basis, respectively?
Personal or professional area of interest : Construct a research proposal which captures and articulates a research design for your chosen area of interest/focus. This task comprises a number of component
Discuss the issue affecting the corporate workplace : a) Discuss the issue affecting the corporate workplace b) Identify, interpret and diagnose appropriate organizational needs that require development and change
Victor misunderstanding and misuse of science and religion : What is Victor's misunderstanding and misuse of science and religion, and how does this contribute to his death?
What is the amount of income taxes payable for crane : What is the amount of income taxes payable for Crane, Inc? Crane, Inc. had pre-tax accounting income of $3800000 and a tax rate of 20% in 2021
Explain two unfair dismissal rules and due processes : 1. List four possible sources of human resource specialist assistance your organisation could use.
Should avon cosmetics push the approach : The face powder's probability is judged to be 40%. Construct a decision tree diagram. Should Avon cosmetics push the approach? Explain why?
What is your opinion of unemployment insurance : How does unemployment insurance help to reverse the downward spiral of unemployment? (in the US)
What amount of income tax expense should pharoah company : The payment represents rent for the years 2022 and 2023, What amount of income tax expense should Pharoah Company report at the end of 2021?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd