In 2021, Trumball Sound, Inc. deducted $50,000 deprecaition on is income statement. In 2021 Trumball, Inc. deducted $

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In 2021, Trumball Sound, Inc. deducted $50,000
deprecaition on is income statement. In 2021 Trumball,
Inc. deducted $29,000 of tax depreciation on its form 1120.
What is the nature of the book–tax difference created.?
a) Permanent; favorable.
b) Permanent; unfavorable.
c) Temporary; favorable.
d) Temporary; unfavorable.
QUESTION 4
4. Green Clean, Inc. began business 1/1/19. It reported a net
capital loss of $5,000 in Year 2021. It reported net capital gains
of $26,000 in Year 2019 and a net capital loss of $10,000 in 2020.
What is the amount of the Capital Loss carryforward into Year
2022?
a) $11,000
b) $5,000
c) $10,000
d) $0