233k views
2 votes
Grand River Corporation reported pretax book income of $500,000. Included in the computation were favorable temporary differences of $100,000, unfavorable temporary differences of $10,000, and favorable permanent differences of $80,000. The corporation's current income tax expense or benefit would be: _________

User Testuser
by
6.8k points

2 Answers

6 votes

Answer:

$69,300 Tax expense

Step-by-step explanation:

The corporation's current income tax expense is: ($500,000 – $100,000 + $10,000 – $80,000 = $330,000) × 21%.

User Tony DiNitto
by
7.4k points
0 votes

Answer yes

Step-by-step explanation:

User Frank Ockenfuss
by
7.1k points