Solution-Which are not deductible until paid for income tax

Which are not deductible until paid for income tax purposes

Reference no: EM13912402

In 2013, its first year of operations, Watts Company reported pretax accounting income of $600,000. Included in the $600,000 was an expense for accrued, unpaid warranty costs of $80,000, which are not deductible until paid for income tax purposes. Watts' income tax rate was 30%. Prepare the entry to record the income taxes for 2013 with a description.

Reference no: EM13912402

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Which are not deductible until paid for income tax purposes : In 2013, its first year of operations, Watts Company reported pretax accounting income of $600,000. Included in the $600,000 was an expense for accrued, unpaid warranty costs of $80,000, which are not deductible until paid for income tax purposes.

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Which are not deductible until paid for income tax purposes

Reference no: EM13912402

Reference no: EM13912402

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