The following information is available for Remmers Corporation for 2012. 1. Depr
ID: 2379549 • Letter: T
Question
The following information is available for Remmers Corporation for 2012.1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $125,200. This difference will reverse in equal amounts of $31,300 over the years 2013 The following information is available for Remmers Corporation for 2012.
1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $125,200. This difference will reverse in equal amounts of $31,300 over the years 2013 The following information is available for Remmers Corporation for 2012.
1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $125,200. This difference will reverse in equal amounts of $31,300 over the years 2013 The following information is available for Remmers Corporation for 2012.
1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $125,200. This difference will reverse in equal amounts of $31,300 over the years 2013 The following information is available for Remmers Corporation for 2012. Compute taxable income for 2012.
Explanation / Answer
(b) Taxable income [from part (a)] $815,000
Excess depreciation 125,200
Municipal interest 12,000
Unearned rent (44,800)
Pretax financial income for 2010 $907,400
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