Business, 27.08.2020 16:01 isiahemerson0

Kensington had this info at the end of 2015, its first year of operations:Pretax book income $800.000Prepaid expense 300,000Excess of tax over book depreciation 200,000 Interest Income on municipal bonds 100.000No other permanent or temporary differences exist. The prepaid expense will be expensed in 2018; the depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable. The 12/31/15 Income Tax Payable is:.a. $60,000.b. $240,000.c. $210,000.d. $180,000.e. $360,000.

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Kensington had this info at the end of 2015, its first year of operations:Pretax book income $800.00...

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