Vaughn Company has the following two temporary differences between its income tax expense and income taxes payable. Pretax financial income Excess depreciation expense on tax return Excess warranty expense in financial income Taxable income The income tax rate for all years is 20%. 2020 $877,000 (29,500 ) 19,800 $867,300 2021 $932,000 (39,400) 10,400 $903,000 2022 $912,000 (9,800 ) 7,600 $909,800

Vaughn Company has the following two temporary differences between its income tax expense and income taxes payable. Pretax financial income Excess depreciation expense on tax return Excess warranty expense in financial income Taxable income The income tax rate for all years is 20%. 2020 $877,000 (29,500 ) 19,800 $867,300 2021 $932,000 (39,400) 10,400 $903,000 2022 $912,000 (9,800 ) 7,600 $909,800

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter6: Analysing And Journalizing Payroll

Section: Chapter Questions

Problem 10PB

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