ACC 545 STUDY Start With a Dream /acc545study.com ACC 545 STUDY Start With a Dream /acc545study.com | Page 25

The following information relates to 2007:
Income before income tax $240,000
Prior period adjustment: understatement of 2005 depreciation
expense (before taxes) $ 25,000
Cumulative decrease in income from change in inventory methods
(before taxes) $ 35,000
Dividends declared (of this amount, $25,000 will be paid on January
15, 2008) $100,000
Effective tax rate 40%
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ACC 545 Week 5 Team Investments and Marketable Securities
Discussion
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ACC 545 Week 5 Team Investments and Marketable Securities
Discussion