Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following information is available for oriole

The following information is available for Oriole Corporation for 2025. Depreciation reported on...

50.1K

Verified Solution

Question

Accounting

The following information is available for Oriole Corporation for 2025.
Depreciation reported on the tax return exceeded depreciation reported on the income statement by $114,000. This difference will reverse in equal amounts of $28,500 over the years 2026-2029.
Interest received on municipal bonds was $10,200.
Rent collected in advance on January 1,2025, totaled $61,800 for a 3-year period. Of this amount, $41,200 was reported as unearned at December 31,2025, for book purposes.
The tax rates are 20% for 2025 and 17% for 2026 and subsequent years.
Income taxes of $154,000 are due per the tax return for 2025.
No deferred taxes existed at the beginning of 2025.
(a)
(b)
Your answer is incorrect.
Compute pretax financial income for 2025.
Pretax financial income for 2025
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An object is located to the left of a convex lens whose focal length is f=34...

Physics
Q

5.How can you proof a proposition in the form of ?x P(x) is NOT true. 6.a) Briefly...

Advance Math
Q

In 2010, the Top-slice Golf Company decided to augment their very successful line of golf clubs...

Accounting
Q

cally and The of ic 4 13 Two circular colls having equal and carry equal...

Physics
Q

3 When a rubber band is stretched by a distance x it exerts a restoring...

Physics
Q

Tess needs to buy shredded rubber for her children s playground The shredded rubber costs...

Basic Math
Q

1 Find the derivatives of the following functions A 5 pts f x x 4x...

Calculus
Q

c 81x 121

Algebra
Q

Anderson Steel Company began 2018 with 580,000 shares of common stock outstanding. On March 31,...

Accounting
Q

Adjusting Entries - The data needed to determine year-end adjustments are as follows: ...

Accounting
Q

Neptune Company ha desarrollado un pequeo juguete inflable que est ansioso por presentar a sus...

Accounting
Q

Question 2 you plan to purchase a $350,000 house using a 30-year mortgage obtained from...

Finance