Question
ABC Company had the following net operating income or losses over a 5-year period: 2010: 25,000 2011: 30,000 2012: (50,000) 2013: (30,000) 2014: 40,000 The
ABC Company had the following net operating income or losses over a 5-year period:
2010: 25,000
2011: 30,000
2012: (50,000)
2013: (30,000)
2014: 40,000
The income tax rate is 40% for all years
Prepare the journal entries for income taxes for the years 2012-2014. Please show work.
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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Edition
047116920X, 978-0471169208
