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Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $35,000...

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Accounting

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Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $35,000 Cost of Goods Sold $440,000 Other Operating Expenses $360,000 Sales $2,285,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $345,000 Calculate Flip's taxable liability for the current year. Answer is complete but not entirely correct. B D E 1 2 Taxable Liability $ 1.415,500 3 5 6 7 00 Prey 8 of 8 Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $35,000 Cost of Goods Sold $440,000 Other Operating Expenses $360,000 Sales $2,285,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $345,000 Calculate Flip's taxable liability for the current year. Answer is complete but not entirely correct. A B D E 1 2 Taxable Liability = $ 297,255 3 4 6 7 8

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