Posted: September 18th, 2017

taxable income determination

Quince company has book income of $120,000 properly determined in accordance with financial accounting principles. The following information is also available:

* The company received a $10,000 dividend from a large publicly traded domestic corporation of which it owns less than 20%.
* income tax expense on financial statements was $30,000.
*Depreciation expense on the financial statements is $25,000 less than depreciation expense determined using tax laws.
* The company recieved life insurance proceeds of $15,000.
*Charitable contributions of $20,000 were made.

Determine the taxable income of Quince Company

Do you want your assignment written by the best essay experts? Order now, for an amazing discount.


Expert paper writers are just a few clicks away

Place an order in 3 easy steps. Takes less than 5 mins.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
Live Chat+1-631-333-0101EmailWhatsApp