reported pretax book Kumara also reports an increase in the taxable temporary differences of $176,000, an increase in the deductible temporary differences of $171,000, and favorable permanent differences of $176,000. Assuming a tax rate of 21 percent, compute the company's deferred income tax expense or benefit, what is the deferred 1.Kumara Corporation income of $1,200,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1.Kumara Corporation
reported pretax book
income of $1,200,000. Kumara also reports an
increase in the taxable temporary differences of
$176,000, an increase in the deductible temporary
differences of $171,000, and favorable permanent
differences of $176,000. Assuming a tax rate of 21
percent, compute the company's deferred income
tax expense or benefit. what is the deferred
income expense
Transcribed Image Text:1.Kumara Corporation reported pretax book income of $1,200,000. Kumara also reports an increase in the taxable temporary differences of $176,000, an increase in the deductible temporary differences of $171,000, and favorable permanent differences of $176,000. Assuming a tax rate of 21 percent, compute the company's deferred income tax expense or benefit. what is the deferred income expense
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