Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. for its first year of operations, tringali corpora

For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable...

50.1K

Verified Solution

Question

Accounting

For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:

Pretax accounting income $ 350,000
Permanent difference (14,500 )
335,500
Temporary difference-depreciation (19,100 )
Taxable income $ 316,400

Tringali's tax rate is 39%. Assume that no estimated taxes have been paid. What should Tringali report as income tax payable for its first year of operations?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

1.) Gas           Number of moles N2                    3.10 O2                    0.76 CO2                 0.12 If the total pressure is 1.07 atm, what is the partial pressure of Oxygen?...

Biology
1.2K views

Explain the Endosymbiont Theory

Psychology
1.2K views

Discuss the pros and cons of qualitative vs. quantitative techniques in data collection.

Physics
1.2K views

Two forces, F⃗ 1F→1F_1 and F⃗ 2F→2F_2, act at a point. F⃗ 1F→1F_1 has a magnitude...

Physics
1.2K views

A stone is thrown with an initial velocity of 35.0 m/s at an angle of 37...

Mechanical Engineering
1.2K views

Tensile testing can someone tell me how to calcualte the true strain, engineering strain, true stress and...

General Management
1.2K views

What are some advantages and challenges of using a logic-driven analytics process rather than follow a...

General Management
1.2K views

What are some strategies that you could use as a Health Care Manager to effectively manage...

Basic Math
1.2K views

ne the following a the function s domain b the function s range c the...

Calculus
1.2K views

Which statement correctly describes the function f x 6x 5 if x 0 2x 10...

Accounting
1.2K views

Nova Companys total overhead cost at various levels of activity are presented below: ...

Accounting
1.2K views

Saved ! Required information 2 of 2 Use the following information for...