Maurice Tutor

(5)

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Aug 2017 My Price 5.00

Kraft Company

Kraft Company made the following journal entry in late 2012 for rent on property it leases to Danford Corporation. Cash 90,000 Unearned Rent Revenue 90,000 The payment represents rent for the years 2013 and 2014, the period covered by the lease. Kraft Company is a cash basis taxpayer. Kraft has income tax payable of $138,000 at the end of 2012, and its tax rate is 35%. What amount of income tax expense should Kraft Company report at the end of 2012? a. $79,500 b. $106,500 c. $122,250 d. $169,500 Assuming the income taxes payable at the end of 2013 is $153,000, what amount of income tax expense would Kraft Company record for 2013? a. $121,500 b. $137,250 c. $168,750 d. $184,500 THE SOLUTION FOR FIRST IS 138000-(90000*0.35)=106500, BUT i DONT KNOW WHY IT WILL BE MINS NOT PLUS 90000*0.35 THANKS

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Aug 2017 12:08 PM My Price 5.00

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