Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences reported first on: Income Statement Tax Return Revenue Expense Revenue Expense $21, 000 (1.) (2.) (3.) (4.) $21,000 $15, 200 $21, 000 $15, 200 $21, 000 $10, 200 Required: For each situation, determine the taxable income assuming pretax accounting income is $100,000. (Amounts to be deducted should be indicated by a minus sign.) 1 3 4 Accounting income Temporary differences: Income statement first: Revenue Expense Tax return first: Revenue Expense Taxable income
Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences reported first on: Income Statement Tax Return Revenue Expense Revenue Expense $21, 000 (1.) (2.) (3.) (4.) $21,000 $15, 200 $21, 000 $15, 200 $21, 000 $10, 200 Required: For each situation, determine the taxable income assuming pretax accounting income is $100,000. (Amounts to be deducted should be indicated by a minus sign.) 1 3 4 Accounting income Temporary differences: Income statement first: Revenue Expense Tax return first: Revenue Expense Taxable income
Chapter24: Multistate Corporate Taxation
Section: Chapter Questions
Problem 26P
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