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Budlow, Inc., reported the following results for the current year. Book income (before tax) $500,000 Tax depreciation in excess of book 75,000 Warranty expense, not
Budlow, Inc., reported the following results for the current year.
| Book income (before tax) | $500,000 |
| Tax depreciation in excess of book | 75,000 |
| Warranty expense, not deductible currently | 17,500 |
| Municipal bond interest income | 10,000 |
Determine Budlows taxable income for the current year. Identify any temporary or permanent book-tax differences.
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Information Systems Control And Audit
Authors: Ron Weber
1st Edition
0139478701, 978-0139478703
