Solution-Compute Costello deferred income tax expense or

Compute Costello deferred income tax expense or benefit

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Reference no: EM132544303

Question - Costello Corporation reported pretax book income of $501,400. During the current year, the reserve for bad debts increased by $7,800. In addition, tax depreciation exceeded book depreciation by $41,400. Finally, Costello received $3,700 of tax-exempt life insurance proceeds from the death of one of its officers. Compute Costello's deferred income tax expense or benefit?

Reference no: EM132544303

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Compute Costello deferred income tax expense or benefit

Reference no: EM132544303

Reference no: EM132544303

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