Question
Didde Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2017: Book income before
Didde Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2017: Book income before income taxes $1,500,000 Add temporary difference Construction contract revenue which was reversed in 2018 $160,000 Deduct temporary difference Depreciation expense which will reverse in equal amounts in each of the next four years ($640,000) Taxable income $1,020,000 Didde's effective income tax rate was 34% for 2017. What amount should Didde have reported in its 2017 income statement as the current provision for income taxes?
$54,400 |
$346,800 |
$510,000 |
$564,400 |
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