Taylor Company began manufacturing operations on January 2, 20X1. During 20X1 Taylor reported pre-tax book...
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Accounting
Taylor Company began manufacturing operations on January 2, 20X1. During 20X1 Taylor reported pre-tax book income of $150,000 and had taxable income of $200,000. Taylor had a temporary difference relating to accrued product warranty costs which are expected to be paid as follows:
20X2 $30,000
20X3 $15,000
20X4 $ 5,000
If Taylor paid no estimated taxes, the income tax payable at the end of 20X1 is:
$45,500
$42,000 $
46,900
$43,750
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