Question: Eight Independent situations are described below. Each involves future deductible amounts and/or future taxable amounts. (s in millions) Temporary Differences Reported First on: The Tax

 Eight Independent situations are described below. Each involves future deductible amounts

Eight Independent situations are described below. Each involves future deductible amounts and/or future taxable amounts. (s in millions) Temporary Differences Reported First on: The Tax Return Revenue Expense The Income Statement Revenue Expense $29 $29 1. 2 3. 4. $29 $29 24 24 29 29 29 29 24 24 19 19 14 Required: For each situation determine taxable income, assuming pretax accounting income is $190 million (Enter your answers in millions (l.e., 10,000,000 should be entered as 10).) Situations Taxable income 1 2 3 4 5 6 $ $ $ $ 195 243 176 190 7 8

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