Business, 16.11.2019 02:31 brookie125

Nishi corporation prepares financial statements for each month-end. as part of its accounting process, estimated income taxes are accrued each month for 27% of the current month’s net income. the income taxes are paid in the first month of each quarter for the amount accrued for the prior quarter. the following information is available for the fourth quarter of the year. when tax computations are completed on january 20 of the following year, nishi determines that the quarter’s income taxes payable account balance should be $22,099 on december 31 (its unadjusted balance is $19,899).

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Nishi corporation prepares financial statements for each month-end. as part of its accounting proces...