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The jones family real estate agency began operations in January 2 0 2 3 and purchased a machine for $ 2 0 , 0 0
The jones family real estate agency began operations in January and purchased a machine for $ North Dakota uses straightline depreciation over a fouryear period for financial reporting purposes. For tax purposes, the deduction is of cost in in and in Pretax accounting income for was $ which includes interest revenue of $ from municipal bonds. The enacted tax rate is for all years. There are no other differences between accounting and taxable income. Prepare a journal entry to record income taxes for the year
The jones family real estate agency began operations in January and purchased a machine for $ North Dakota uses straightline depreciation over a fouryear period for financial reporting purposes. For tax purposes, the deduction is of cost in in and in Pretax accounting income for was $ which includes interest revenue of $ from municipal bonds. The enacted tax rate is for all years. There are no other differences between accounting and taxable income.
Prepare a journal entry to record income taxes for the year
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