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Differences between tax and accounting income
Course:- Accounting Basics
Reference No.:- EM13149087





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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.




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