Woody corp. had taxable income of 8000 in the current year., Ask an Expert

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Woody Corp. had taxable income of $8,000 in the current year. The amount of MACRS depreciation was $3,000 while the amount of depreciation reported in the income statement was $1,000. Assuming no other differences between tax and accounting income, Woody's pretax accounting income was:

A. $ 5,000.

B. $ 6,000.

C. $10,000.

D. $11,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9400656

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