Answered: Peak Corporation reported a pretax book… | bartleby

SWFT Essntl Tax Individ/Bus Entities 2020

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 5CE

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Calculate the book equipment of taxable income

Peak Corporation reported a pretax book income of $750,000. The
company's financial records included:
⚫ Favorable temporary differences: $82,400
⚫ Unfavorable temporary differences: $31,600
⚫ Favorable permanent differences: $43,800
Calculate the book equivalent of taxable income.

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