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rti WileyPLUS X Q Receivables I Accounting X On December 31, 2015, X e Exercise 7-19 Pearl Corp X G Assuming Martinez Co X
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Kieso, Intermediate Accounting, 16e
Assignment
Gradebook ORION
Intermediate Accounting II (Acct 323 – 324 – 326)
+CI
CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK I
ASSIGNMENT RESOURCES Chapter 19 Homework Exercise 19-2 (Part Level Submission)
Exercise 19-4 ( Level Submissi
Exercise 19-8 (Part Level Submission) Exercise 19-10 (Part Level Submission) Exercise 19-19 (Part Level Submission) Exercise 19-24 (Part Level Submission) Problem 19-1 (Part Level Submission)
Review Score Review Results by Study Objective
ii
Exercise 19-4 (Part Level Submission) Pharoah Company reports pretax financial income of $72,600 for 2017. The following items cause taxable income to be different than pretax financial income.
1. Depreciation on the tax return is greater than depreciation on the income statement by $14,500. 2. Rent collected on the tax return is greater than rent recognized on the income statement by $21,700. 3. Fines for pollution appear as an expense of $11,700 on the income statement.
Pharoah's tax rate is 30°k for all years, and the company expects to report taxable income in all future years. There are no deferred taxes at the beginning of 2017.
¦ (a) Compute taxable income and income taxes payable for 2017.
Taxable income
S Income taxes payable $
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