how do you get this answer? than book income. The difference is temporary. Earl's...
60.1K
Verified Solution
Link Copied!
Question
Accounting
how do you get this answer?
than book income. The difference is temporary. Earl's $899,600 tax deduction is $54,600 more than its book expense, so its taxable income is $54,600 less than book income. The difference is temporary. Question 3 1/1 pts Southlawn Incorporated's taxable income is computed as follows: Book income before tax$2,405,600 Net permanent differences (512,000) Net temporary differences (189,000) Taxable income $1,704,600 Southlawn's tax rate is 21%. Which of the following statements is true? The permanent differences caused a $107,520 net increase in Southlawn's deferred tax liabilities. The permanent differences caused a $107,520 net decrease in Southlawn's deferred tax liabilities. The temporary differences caused a $39,690 net increase in Southlawn's deferred tax liabilities. The temporary differences caused a $39,690 net decrease in Southlawn's deferred tax liabilities
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
