AC 302 WEEK 3 Willy Exercises Questions
Exercise 19 Question 1
South Carolina Corporation has one temporary difference at the end of 2014 that will reverse and cause taxable amounts of $57,090 in 2015, $61,950 in 2016, and $67,324 in 2017. South Carolina’s pretax financial income for 2014 is $349,800, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2014.
Your answer is correct.
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AC 302
08 Sep 2015