Zurich Company reports pretax financial income of $70,000 for 2017. The following item causes taxable...
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Zurich Company reports pretax financial income of $70,000 for 2017. The following item causes taxable income to be different than pretax financial income: Q10 10PTS Rent revenue on the tax return is greater than rent revenue recognized on the income statement by $22,000. Zurich's tax rate is 30% 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 Required: Prepare Z Company's journal entry to record 2017 taxes
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