Solution-Compute the company deferred income tax expense or

Compute the company deferred income tax expense or benefit

Reference no: EM131711474

Question - Harrison Corporation reported pretax book income of $732,500. Tax depreciation exceeded book depreciation by $630,000. In addition, the company received $232,000 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $49,000. Assuming a tax rate of 34 percent, compute the company's deferred income tax expense or benefit.

Reference no: EM131711474

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Compute the company deferred income tax expense or benefit

Reference no: EM131711474

Reference no: EM131711474

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