19-8B

Hi in part B of the assignment attached the system is telling me that the answer is not correct, I need help understand this

Exercise 19-8 (Part Level Submission) Culver Company has the following two temporary differences between its income tax expense and income taxes payable. 2017 Pretax financial income Excess depreciation expense on tax return Excess warranty expense in financial income Taxable income 2018 $849,000 (30,800) 21,000 $839,200 $883,000 (38,900) 9,600 $853,700 2019 $961,000 (10,300) 8,000 $958,700 The income tax rate for all years is 40%. (a) Your answer is correct. Assuming there were no temporary differences prior to 2017, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit 2017 Income Tax Expe 339600 Deferred Tax Ass 8400 Income Tax Paya 335680 Deferred Tax Liab 12320 2018 Income Tax Expe 353200 Deferred Tax Ass 3840 Income Tax Paya 341480 Deferred Tax Liab 15560 2019 Income Tax Expe 384400 Deferred Tax Ass 3200 Income Tax Paya 383480 Deferred Tax Liab 4120 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Attempts: 1 of 3 used (b) Your answer is partially correct. Try again. Indicate how deferred taxes will be reported on the 2019 balance sheet. Culver's product warranty is for 12 months. Culver Company Balance Sheet December 31, 2019 Current Liabilities Deferred Tax Liab Click if you would like to Show Work for this question: $ 920 Open Show Work