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TB ES Qu. 05-97 (Static) For book purposes, RadioAircast Incorporated reported... For book purposes, RadioAircast Incorporated reported $15,000 of income from municipal bonds. It also

TB ES Qu. 05-97 (Static) For book purposes, RadioAircast Incorporated reported...\ For book purposes, RadioAircast Incorporated reported

$15,000

of income from municipal bonds. It also expensed

$12,000

of radio station filing fines paid to the Federal Communications Commission the same year. What is the total book-tax difference associated with these items? Is it favorable or unfavorable? What amount of the total adjustment is permanent and what amount is temporary?

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TB ES Qu. 05-97 (Static) For book purposes, RadioAircast Incorporated reported... For book purposes, RadioAircast Incorporated reported $15,000 of income from municipal bonds. It also expensed $12,000 of radio station filing fines paid to the Federal Communications Commission the same year. What is the total book-tax difference associated with these items? Is it favorable or unfavorable? What amount of the total adjustment is permanent and what amount is temporary

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