Baskin's pretax accounting income in Year 2 is $100,000. Baskin received cash rental payments in advance for $20,000 in Year 1 and $30,000 in Year 2, which are taxed in the year of receipt. It is expected the rent will be recognized for financial reporting purposes as $25,000 in Year 3 and $25,000 in Year 4. The income tax rate is 40%. What is Baskin's tax basis for rental revenues in Year 2

the  baskin tax basis for rental revenue is $10,000

Explanation:

The computation of the baskin tax basis for rental revenue is given below:

= Year 4 rent recognized × income tax rate

= $25,000 × 40%

= $10,000

Hence, the  baskin tax basis for rental revenue is $10,000

The same should be considered and relevant

answer; the correct answer should be (demonstrations); good luck

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.