What is their total income tax expense for 2022

Reference no: EM133612404

Question: On December 31, 2021, Cook Culinary Supplies had a deductible temporary difference of $600,000, income taxes payable of $580,000, and a tax rate of 40.0%. On June 30, 2022, Cook estimated that they would not realize $80,000 of their deferred tax asset, and made the appropriate journal entry. On September 30, 2022, they reversed $35,000 of the June 30 entry. If, for the 2022 year end, Cook calculated and reported income taxes payable of $625,000, what is their total income tax expense for 2022?

Reference no: EM133612404

Questions Cloud

What moments were the most engaging and why : What moments were the most engaging and why? Were there any moments of disconnect or when the performance felt poor or unrealistic?

What do you think you might learn by doing your is : What do you think you might learn by doing your IS? How will those skills help you to become a more rounded/versatile professional?

Capital gain or loss reported on form 1040 : sale of stocks and other investments, what form or schedule is used to support the capital gain or loss reported on Form 1040

What kind of environment do you hope to create : What kind of environment do you hope to create in your future classroom? How does this relate to your basic beliefs about young children and learning?

What is their total income tax expense for 2022 : If, for the 2022 year end, Cook calculated and reported income taxes payable of $625,000, what is their total income tax expense for 2022

Determine the organizations obligations : Research the questions to determine the organizations obligations and what best practices you would recommend to address the concerns.

Discuss how management can be used : how can it be managed by someone else? Does it defy management? Discuss how management can be used to provide for people's leisure experience.

Write a brief explanation for each entry : Journalize the transactions in the general journal, beginning on page 5. Write a brief explanation for each entry. 18 Sold $1,500 in tree trimming services

List three words that best describe your mood right now : List three words that best describe your mood right now. List three professional goals you would like to accomplish over the next five years.

User Account

All Pages