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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

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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
Transcribed Image Text: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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