Question
A company has taxable income of $500,000 and pretax accounting income of $600,000. The tax rate is 30%. Prepare the journal entry to record income
A company has taxable income of $500,000 and pretax accounting income of $600,000. The tax rate is 30%. Prepare the journal entry to record income tax expense and the related deferred tax asset or liability.
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
