Solution-What should tringali report as its income tax

What should tringali report as its income tax expense

Assignment Help Cost Accounting

Reference no: EM133163689

Question - For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:

Pretax accounting income $280,000

Permanent difference (14,400)

265,600

Temporary difference-depreciation (19,300)

Taxable income $245,300

Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as its income tax expense for its first year of operations?

Reference no: EM133163689

Questions Cloud

What is the amount of jeremy taxable capital gain : What is the amount of Jeremy's taxable capital gain or allowable capital loss from the sale of his shares in ValueCo

Marketing and product development collaborate : Identify the processes that need to be created so sales, marketing, and product development collaborate to address customer needs.

What is meant by the vanishing human moment : What is meant by the vanishing human moment? Is this a serious problem? Why or why not"

What concerns you most about the debriefing session : In your initial post, evaluate the debriefing session you witnessed in the Riverbend City: Shelter and Nursing Home Debriefing Mission multimedia presentation b

What should tringali report as its income tax expense : Assume that no estimated taxes have been paid. What should Tringali report as its income tax expense for its first year of operations

Advertisement Analysis : What is the product? What publication did the ad come from and does its audience match the products target market?

Describe the rational choice paradigm of decision making : Describe the Rational Choice Paradigm of Decision Making (McShane, Tasa & Steen 2018 p.188). Include correct citation and reference.

What is the price of a put on this stock : Risk-free assets are currently returning .18 percent per month. What is the price of a 6-month put on this stock with a strike price of $45

How would you deal with the store manager : Being in the laundry and cleaning business, the Carters feel strongly about not allowing employees to smoke, eat, or drink in their stores. Jennifer was therefo

User Account

All Pages

What should tringali report as its income tax expense

Reference no: EM133163689

Reference no: EM133163689

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT