Grand River Corporation reported pretax book income of $610,000. Included in the computation were favorable temporary differences of $155,000, unfavorable temporary differences of $98,000, and favorable permanent differences of $146,000. The corporation's current income tax expense or benefit would be:
Grand River Corporation reported pretax book income of $610,000. Included in the computation were favorable temporary differences of $155,000, unfavorable temporary differences of $98,000, and favorable permanent differences of $146,000. The corporation's current income tax expense or benefit would be:
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 24CE
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Transcribed Image Text:Grand River Corporation
reported pretax book income of
$610,000. Included in the
computation were favorable
temporary differences of
$155,000, unfavorable
temporary differences of
$98,000, and favorable
permanent differences of
$146,000. The corporation's
current income tax expense or
benefit would be:
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