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Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences reported first on: Income Statement Tax
Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences reported first on:
Income Statement | Tax Return | |||
---|---|---|---|---|
Revenue | Expense | Revenue | Expense | |
(1) | $ 16,500 | |||
(2) | $ 16,500 | |||
(3) | $ 16,500 | $ 14,300 | ||
(4) | $ 14,300 | $ 16,500 | $ 6,700 | $ 11,700 |
Required:
For each situation, determine the taxable income assuming pretax accounting income is $100,000.
Note: Amounts to be deducted should be indicated by a minus sign.
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