### Differences between tax and accounting income

Assignment Help Accounting Basics
##### Reference no: EM13120438

Woody Corp. had taxable income of \$8,000 in the current year. The amount of MACRS depreciation was \$3,000 while the amount of depreciation reported in the income statement was \$1,000. Assuming no other differences between tax and accounting income, Woody's pretax accounting income was:

A. \$ 5,000.

B. \$ 6,000.

C. \$10,000.

D. \$11,000.

#### Increase in the operating profits

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