Business, 03.04.2020 22:26 peagwatyourservice

Hawkins Inc. had pre-tax accounting income of $1,800,000 and a tax rate of 35% in 2017, its first year of operations. During 2017 the company had the following transactions:
Received rent from Barrett Co. for 2018 $64,000
Municipal bond income $80,000
Depreciation for tax purposes in excess of book depreciation $40,000
Installment sales revenue to be collected in 2018 $108,000
Required:
a) For 2017, what is the amount of income taxes payable for Hawkins Inc.?

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Hawkins Inc. had pre-tax accounting income of $1,800,000 and a tax rate of 35% in 2017, its first ye...

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