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Irish Corporation reported pretax book income of $1,000,000 in 2017. Included in the computation were favorable temporary differences of $300,000, unfavorable temporary differences of $100,000,
Irish Corporation reported pretax book income of $1,000,000 in 2017. Included in the computation were favorable temporary differences of $300,000, unfavorable temporary differences of $100,000, and favorable permanent differences of $200,000. Compute the following items for 2017, assuming a tax rate of 34%.
1-Current income tax expense?
2-Deferred income tax expense?
3-Total income tax expense?
4- Hypothetical income tax provision?
5-Effective tax rate (enter percent with one decimal point, for example 34% would be entered as 34.0) ?
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