1. Prepare journal entries to record the income tax and 2. Present the income tax expense in the incone statement The income statement and tax return showed the following: 2021 2022 Income before tax per income statement Income before tax per tax return Income tax rate 6,000,000 7,000,000 9,000,000 8,000,000 25% 25% Required: 1. Prepare journal entries to record the income tax ane deferred tax for 2021 and 2022. for 2021 and 2022.
1. Prepare journal entries to record the income tax and 2. Present the income tax expense in the incone statement The income statement and tax return showed the following: 2021 2022 Income before tax per income statement Income before tax per tax return Income tax rate 6,000,000 7,000,000 9,000,000 8,000,000 25% 25% Required: 1. Prepare journal entries to record the income tax ane deferred tax for 2021 and 2022. for 2021 and 2022.
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 9DQ: LO.2 Osprey Corporation, an accrual basis taxpayer, had taxable income for 2019 and paid 40,000 on...
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