Kent income tax expense


Kent Company prepared the following 2011 reconciliation of pretax accounting income and taxable income:

pretax accounting income $180,000
premanent differences (15,000)
165,000
Temporary difference-depreciation (12,000)
Taxable income 153,000
Cumulative future taxable amounts all from depreciation temporary differences:
As of December 31, 2010 $13,000
As of December 31, 2011 $25,000

The enacted tax rate was 40% for 2010 and 30% for 2011 and thereafter.. What would Kent's income tax expense be in the year 2011?

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Accounting Basics: Kent income tax expense
Reference No:- TGS057565

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