10 Arnold Industries has pretax accounting income of $26 million for the year ended December 31, 2018, The tax rate is 30%. The only difference between accounting income and taxable income relates to an operating lease in which Arnold is the lessee. The inception of the lease was December 28, 2018. An $16 million advance rent payment at the inception of the lease is tax-deductible in 2018 but, for financial reporting purposes, represents prepaid rent expense to be recognized equally over the four-year lease term. ints Required 0120:03 1. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2018. 2. Prepare the appropriate journal entry to record Arnold's income taxes for 2019. Pretax accounting income was $51 million for the year ended December 31, 2019. 3. Assume a new tax law is enacted in 2019 that causes the tax rate to change from 30% to 20% beginning in 2020, complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2019. Skipped eBook Hint Print eferences Complete this question by entering your answers in the tabs below. Required 1 Calculation Required 1 GJ Required 2 Reauired 3 Complete the following table given below to record Arnold's income taxes for 2018. (Enter your answers in millions rounded to 1 Calculation Required 3 GJ decimal place (i.e., 5,500,000 should be entered as 5.5).) Tax Rate % Recorded as: ($ in millions) 26.0 ax Pretax accounting income Rent costs reversing in: 2019 2020 10 of 16 Next > Required 1. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2018 2. Prepare the appropriate journal entry to record Arnold's income taxes for 2019. Pretax accounting income was $51 million for the year ended December 31, 2019 3. Assume a new tax law is enacted in 2019 that causes the tax rate to change from 30% to 20% beginning in 2020. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2019. 10 points 01:19:38 Complete this question by entering your answers in the tabs below. Skipped Required1 Calculation Required 3 Calculation Required 1GJ Required 2 Required 3 GJ eBook Hint Print Complete the following table given below to record Arnold's income taxes for 2018. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5.) (S in millions) 26.0 Tax Rate % Tax $ Recorded as Pretax accounting income Rent costs reversing in: 2019 2020 2021 2022 Total deferred tax amount Income taxable in current year $ 26.0x Mc Graw Hil 10 Required: 1. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2018. ournal entry to record Arnold's income taxes for 2019. Pretax accounting income was $51 million for the year ended December 31, 2019. 3. Assume a new tax law is enacted in 2019 that causes the tax rate to change from 30% to 20% beginning in 2020, complete the following table given below and prepare the appropriate journal entry to record Arnold 's income taxes for 2019 0 oints 011840 Complete this question by entering your answers in the tabs below. Skpped Required1 Calculation Required 1 G) quied Required 3 G) eBook Hint Print rnal entry to record Arnold's income taxes for 2018. (If no entry is required for a transaction/event, select required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5 entered as 5.5).) View transaction list Import a new list 1 Record 2018 income taxes. 10 Required: 1. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income e the appropriate journal entry to record Arnold's income taxes for 2019. Pretax accounting income was $51 million for the year ended December 31, 2019. 3. Assume a new tax law is enacted in 2019 that causes the tax rate to change from 30% to 20% beginning in 2020, Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2019. 10 points 01:18:15 Complete this question by entering your answers in the tabs below. Skipped Required1 Calculation Required 1 GJ Required 2 Required 3 Required 3 GJ Calculation eBook Prepare the appropriate journal entry to record Arnold's income taxes for 2019. Pretax accounting income was $51 million for the year ended December 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (ie., 5,500,000 should be entered as 5.5.) Hint Print References View transaction list Import a new list 1 Record 2019 income taxes. Mc rc Required: 1. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2018. 2. Prepare the appropriate journal entry to record Arnold's income taxes for 2019. Pretax accounting income was $51 million for the 10 points year ended December 31, 2019 3, Assume a new tax law is enacted in 2019 that causes the tax rate to change from 30% to 20% beginning in 2020, Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2019. 01:17:52 Complete this question by entering your answers in the tabs below. Sk pped Required 1 Calculation Required 1 GJ Required 2 Required 3 uired 2Calculation Required 3 GJ eBook Hint Print Assume a new tax law is enacted in 2019 that causes the tax rate to change from 30% to 20% beginning in 2020, Complete the following table given below to record Arnold's income taxes for 2019. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) : Tax Rate % | | Tax $ Recorded as: 0.0 $0.0 Temporary Difference - Beginning of Year Temporary Difference End of Year Change in Deferred Tax account Income taxable in current year 0.0 Required 2 Required 3GJ > Mc 1. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2018. 2. Prepare the appropriate journal entry to record Arnold's income taxes for 2019. Pretax accounting income was $51 million for the year ended December 31, 2019. 3. Assume a new tax law is enacted in 2019 that causes the tax rate to change from 30% to 20% beginning in 2020. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2019 10 oints 01:17:30 Complete this question by entering your answers in the tabs below. Skipped Required 1 CalculationRequired 1 GJ Required 3 Calculation Required 3 GJ Required 2 eBook Prepare the appropriate journal entry to record Arnold's income taxes for 2019. (If no entry is required for a transaction/event, select Hint No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Print View transaction list Import a new list 1 Record 2019 income taxes