Rowen Corporation reported the following results for its first three years of op

Question

Rowen Corporation reported the following results for its first three years of operation:

2010 income (before income taxes)

$   100,000

2011 loss (before income taxes)

(900,000)

2012 income (before income taxes)

1,000,000

There were no permanent or temporary differences during these three years. Assume a corporate tax rate of 30% for 2010 and 2011, and 40% for 201

For 2010, what is the amount of income taxes payable for Rowen, Inc?

            A) $301,600    B) $327,200    C) $343,200    D) $386,400

2010 income (before income taxes)

$   100,000

2011 loss (before income taxes)

(900,000)

2012 income (before income taxes)

1,000,000

Explanation / Answer

Income Taxes Payable for 2010 is $327200

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.