Determining the pretax accounting income, Accounting Basics

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Determining the pretax accounting income

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. $11,000.

C. $6,000.

D. $10,000.

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Accounting Basics: Determining the pretax accounting income

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Accounting Basics: Determining the pretax accounting income

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Accounting Basics: Determining the pretax accounting income

Reference No:- TGS0516191

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