PRINCIPLES OF AUDITING & OTHER ASSURANC
PRINCIPLES OF AUDITING & OTHER ASSURANC
21st Edition
ISBN: 9781264007202
Author: WHITTINGTON
Publisher: MCG
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Chapter 20, Problem 29DOQ
To determine

Identify the appropriate answer related to the most likely item in the CPA’s report relating to a SysTrust engagement.

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Vanessa Enterprises reported pretax book income of $620,800. Included in the computation were favorable temporary differences of $15,500, unfavorable temporary differences of $88,200, and unfavorable permanent differences of $72,400. Assuming a tax rate of 35%, the Corporation's current income tax expense or benefit would be_. a. $225,304 b. $224,000 c. $221,000 d. $217,280
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