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A company paid monthly corporate income tax instalments of $500 on the 15th of every month. The company's income before income taxes for the year
A company paid monthly corporate income tax instalments of $500 on the 15th of every month. The company's income before income taxes for the year end Dec 31 2019 was $15,000. The corporate income tax rate is 40%. Required: a. Prepare journal entry for the full year 2019 corporate income tax expense. b. Prepare journal entry for Dec 2019 tax payment on Jan 15th, 2020. 1 iB 1!! INT so SS
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