Solution-Compute Prance total income tax expense

Compute Prance total income tax expense

Reference no: EM132649477

Problem - Prance reports $600,000 of pretax book net income in 2019. Prance's book depreciation exceeds tax depreciation that year by $20,000. Prance reports no other temporary or permanent book-tax differences. Assuming that the pertinent U.S. tax rate is 21%, compute Prance's total income tax expense, current income tax expense, and deferred income tax expense.

Reference no: EM132649477

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Compute Prance total income tax expense

Reference no: EM132649477

Reference no: EM132649477

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