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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.) $19,500 (2.) $ 19,500 (3.) $14,900 $19,500 (4.) $14,900 $19,500 $11,100 Required: For each situation, determine the taxable income assuming pretax accounting income is $100,000. (Amounts to be deducted should be indicated by a minus sign.) 2 3 4 Accounting income Temporary differences: Income statement first Revenue Expense Tax return first: Revenue Expense Taxable income
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