Blue Ocean Inc. reported a pretax book income of $680,000. Included in the computation were favorable temporary differences of $75,800, unfavorable temporary differences of $32,400, and favorable permanent differences of $63,200. The book equivalent of taxable income is: A. $548,600 B. $616,800 C. $680,000 D. $712,400
Blue Ocean Inc. reported a pretax book income of $680,000. Included in the computation were favorable temporary differences of $75,800, unfavorable temporary differences of $32,400, and favorable permanent differences of $63,200. The book equivalent of taxable income is: A. $548,600 B. $616,800 C. $680,000 D. $712,400
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter3: Taxes On The Financial Statements
Section: Chapter Questions
Problem 4BCRQ
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Blue Ocean Inc. reported a pretax book income of... Please solve this accounting problem
Transcribed Image Text:Blue Ocean Inc. reported a pretax book income
of $680,000. Included in the computation
were favorable temporary differences of
$75,800, unfavorable temporary differences of
$32,400, and favorable permanent differences
of $63,200. The book equivalent of taxable
income is:
A. $548,600
B. $616,800
C. $680,000
D. $712,400
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