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Bad White [126]
3 years ago
6

Smith Company reported pretax book income of $406,000. Included in the computation were favorable temorary differences of $51,20

0, unfavorable temporary differences of $40,600. Smith's deferred income tax expense or benefit would be:
Business
1 answer:
masha68 [24]3 years ago
8 0

Answer:

$3,604

Explanation:

Calculation for what Smith's deferred income tax expense or benefit would be:

Using this formula

Deferred income tax expense =(favorable temporary difference-unfavorable temporary difference)*Tax rate

Let plug in the formula

Deferred income tax expense =($51,200-$40,600)*21%

Deferred income tax expense =$10,600*34%

Deferred income tax expense =$3,604

Therefore Smith's deferred income tax expense or benefit would be:$3,604

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Which type of portfolio might a young investor who is not afraid of risk choose? a portfolio of with a high percentage of stocks
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