Solution-Compute the companys current income tax expense

Compute the companys current income tax expense

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Reference no: EM132523548

Question - Carnegie Corporation reported pretax book income of $400,000. The company had to pay fines and penalties of $80,000. Further, it had $30,000 of bad debt expense included as part of book income in the current year that would not be recognized as a bad debt deduction for tax purposes until next year. Compute the company's current income tax expense or benefit.

Reference no: EM132523548

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Compute the companys current income tax expense

Reference no: EM132523548

Reference no: EM132523548

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