Business, 09.04.2021 02:30 carsengilbert
Oriole, Inc. had pre-tax accounting income of $1800000 and a tax rate of 30% in 2018, its first year of operations. During 2018 the company had the following transactions:
Received rent from Jane, Co. for 2019
$87000
Municipal bond income
$111000
Depreciation for tax purposes in excess of book depreciation
$51000
Installment sales profit to be taxed in 2019
$153000
For 2018, what is the amount of income taxes payable for Oriole, Inc?
a) $419,400
b) $471,600
c) $594,000
d) $504,900
Answers: 1
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Oriole, Inc. had pre-tax accounting income of $1800000 and a tax rate of 30% in 2018, its first year...
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