Ask Experts Questions for FREE Help !
Ask
    deonfh's Avatar
    deonfh Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 9, 2013, 11:06 AM
    Income tax expense usually appears as a separate section on a corporation income stat
    Does income tax expense usually appears as a separate section on a corporation income?
    Fidget1's Avatar
    Fidget1 Posts: 105, Reputation: 4
    Junior Member
    		  
    #2

    Oct 9, 2013, 01:18 PM
    Income tax is shown in a single line directly under "Profit before tax".
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Income tax expense? [ 0 Answers ]

Sales revenue $1,000,000 Cost of goods sold 600,000 Gross margin 400,000 Operating expenses 250,000 Income before income taxes $150,000 *based on an ending FIFO inventory of $250,000 The income tax rate is 40%. The controller of...

Income Tax Expense [ 1 Answers ]

How would I determine Income tax Expense. Rate is 34% The different transactions that occurred were: 1. Sales revenues of $300,000, of which $200,000 was on credit; cost, provided by perpetual inventory record, $172,500. Hint: when perpetual system is used, two entries are made to record a...

Income Tax expense [ 1 Answers ]

I am having trouble understanding the material here. How can I calculate income tax expense for the year ending 2005. Here is the income statement I am working on: KROGER CO 10-K/A 2005-01-29: ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Any Suggestions would help. Thanks

Income Tax Expense [ 1 Answers ]

A Company reported $350,000 in income before income tax for financial reporting (book) purposes in Year 3, its first year of operation. The tax depreciatin exceeded its book depreciation by $30,000. The tax rate for Year 3 and all future years is 40%. Income tax expense reported on the company...

View more questions Search