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SWFT Essntl Tax Individ/Bus Entities 2020

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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Jones company reported a pretax book solve this question general Accounting

Jones Company reported a pretax book income of $415,000. Included
in the computation were favorable temporary differences of $51,500,
unfavorable temporary differences of $20,750, and favorable
permanent differences of $40,750.
Book equivalent of taxable income is:
A. $342,750
B. $374,250
C. $415,000
D. $455,750

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Jones Company reported a pretax book income of $415,000. Included in the computation were favorable temporary differences of $51,500, unfavorable temporary differences of $20,750, and favorable permanent differences of $40,750. Book equivalent of taxable income is: A. $342,750 B. $374,250 C. $415,000 D. $455,750
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