Accounting income or loss for Aberdeen Corporation, following IFRS, is below: Year Accounting income/(loss) Tax rate percent Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 $160,000 250,000 80,000 (160,000) (380,000) 130,000 145,000 30 30 25 25 25 25 Assume that there were no permanent or temporary differences between accounting and taxable income. Required Prepare the tax-related journal entries for Year 3 to Year 7. Aberdeen Corporation believes that it will be able to use any loss carryforward in future years. Aberdeen Corporation will apply the available carryback provisions to the earliest years first. Include your calculations.

Accounting income or loss for Aberdeen Corporation, following IFRS, is below: Assume that there were no permanent or temporary differences between accounting and taxable income. Required Prepare the tax-related journal entries for Year 3 to Year 7 . Aberdeen Corporation believes that it will be able to use any loss carrylonward in future years. Aberdeen Corporation will apply the avallable carryback provisions to the earliest years first. Include your calculations