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a little lost on this question Prepare the joumal entries for 2020 to record the intrapeniod income tax allocation. The tax rate for the first
a little lost on this question Prepare the joumal entries for 2020 to record the intrapeniod income tax allocation. The tax rate for the first $30,000 of income is 15%; the tax rate thereafter is 35%. Beneral Joumai Instructions Jefferson Corporation reported the following pretax and taxable income items from 2020: Required: 1. Prepare the joumal entries for 2020 to record the intraperiod income tax allocation. The tax rate for the first $30,000 of income is 15% : the tax rate thereafter is 35%. 2. Prepare the 2020 income statement for Jetterson Corporation. Jefferson Corporation Income Statement For the Year Ended December 31, 2020 \begin{tabular}{|l|l|l|l|} \hline 1 & Revenues \\ \hline 2 & Expenses \\ \hline 5 & \\ \hline 4 & \\ \hline 5 & Income from continuing operations \\ \hline 6 & Results from discontinued operations: \\ \hline 7 & \\ \hline 1 & \\ \hline 10 & \\ \hline \end{tabular}
a little lost on this question
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