natetheman7740
24.10.2019 •
Business
Tarheel corporation reported pretax book income of $1,032,000. during the current year, the net reserve for warranties increased by $101,600. in addition, tax depreciation exceeded book depreciation by $208,000. finally, tarheel subtracted a dividends received deduction of $56,400 in computing its current year taxable income. tarheel's accounting effective tax rate is:
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Ответ:
17.68%
Explanation:
Given:
Pretax book income = $1,032,000
Net reserve for warranties = $101,600
Additional Tax depreciation = $208,000
Deduction of dividends received = $56,400
Now,
Taxable income
= Pretax book income + Net reserve for warranties - Additional Tax depreciation - Deduction of dividends received
= $1,032,000 + $101,600 - $208,000 - $56,400
= $1,133,600 - $264,400
= $869,200
Now,
The amount of Tax at the rate 21%
= Taxable income × Tax rate
= $869,200 × 21%
= $182,532
Therefore,
The Effective accounting tax rate
=
=
= 0.1768
or
= 0.1768 × 100%
= 17.68%
Ответ: