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4 The following information is related to Leonard Inc.'s pre-tax incomefloss) and taxes: 5 6 Year Pretax Income(Loss) Tax Rate 7 2018 190,000 30% 8
4 The following information is related to Leonard Inc.'s pre-tax incomefloss) and taxes: 5 6 Year Pretax Income(Loss) Tax Rate 7 2018 190,000 30% 8 2019 25,000 30% 9 2020 -310,000 28% 10 2021 240,000 25% 11 12 REQUIRED: 13 Prepare all journal entries for the years 2018-2021 to record income taxes. 14 Note: assume that IFRS is followed and the company's policy is to carry back any tax losses first
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