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Business, 19.12.2021 14:00 iBrain

Skysong IT Consulting changed from the recognition overtime (percentage-of-completion) to the completed-contract method for financial reporting purposes. The company will continue to use the completed-contract method for tax purposes. For years prior to 2017, pretax income under the two methods was as follows: percentage-of-completion $245,000, and completed-contract $199,000. The tax rate is 30%. Prepare Skys

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