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Business, 31.10.2021 04:50 mathscience9301

In its current year income statement, Cere Co. reported income before income taxes of $300,000. Cere estimated that, because of permanent differences, taxable income would be $280,000. During the year Cere made estimated tax payments of $50,000, which were debited to income tax expense. Cere is subject to a 30% tax rate. What amount should Cere report as income tax expense

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In its current year income statement, Cere Co. reported income before income taxes of $300,000. Cere...
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