Accounting for income tax by a corporation, Taxation

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Accounting for income tax by a corporation

Response to the following problem:

Account for income tax by a corporation

During 2014, Yale Heights Corp.'s income statement reported income of $417,000 before tax. The company's income tax return filed with the IRS showed taxable income of $320,000. During 2014, Yale Heights was subject to an income tax rate of 30%.

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Taxation: Accounting for income tax by a corporation

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Taxation: Accounting for income tax by a corporation

Reference No:- TGS02110887

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