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Business, 15.10.2019 23:00, galarzachristopher
Packer co.’s year 5 income statement reported $130,000 in income before provisions for income taxes. to compute the provision for federal income taxes, the following year 5 data are provided:
rent received in advance $22,000
income from exempt municipal bonds $17,000
depreciation deducted for income tax purposes $18,000
depreciation deducted for financial purposes $10,000
what amount should packer report as taxable income?
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Answers: 2
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Packer co.’s year 5 income statement reported $130,000 in income before provisions for income taxes....
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