Burcham Corporation reported pretax book income of $705,000. Tax depreciation exceeded book depreciation by $655,000...
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Burcham Corporation reported pretax book income of $705,000. Tax depreciation exceeded book depreciation by $655,000 In addition, the company received $261,500 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $130,000. Compute the company's book equivalent of taxable income. Use this number to compute the company's total income tax provision or benefit. Sautista Corporation reported pretax book income of $1,327,500 Included in the computation were favorable temporary differences of $342,500, unfavorable temporary differences of $74,250, and favorable permanent differences of $191,000. Compute the company's current income tax expense or benefit. Note: Round your final answer to nearest whole dollar amount. Amounts to be deducted should be indicated by a minus sign
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