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What booktax differences in year 1 and year 2 associated with its capital gains...

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Question

Accounting

What booktax differences in year 1 and year 2 associated with its capital
gains and losses would ABD Inc. report in the following alternative
scenarios? Identify each booktax difference as favorable or unfavorable and
as permanent or temporary.
Year 1 Year 2
Capital gains $ 8,000 $ 5,000
Capital losses 20,000 $0

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