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accounts Recording a Temporary Difference On December 31, 2020, for GAAP purposes, Clubs in reported a balance of $40,000 in a warranty liability for anticipated

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accounts Recording a Temporary Difference On December 31, 2020, for GAAP purposes, Clubs in reported a balance of $40,000 in a warranty liability for anticipated coats to satisfy future warranty claims. No claims were paid in 2020, Pretex GAAP incomes $300,000 and the tax rate is 2546. Assume no other differences between the tax bases and GAAP bases of assets and liabilities or any beginning balances in deferred tax Required a Record the income tax journal entry on December 31, 2020 Note: List multiple debits (when applicable) in alphabetical order and test multiple credits when applicable) in alphabetical order. Note of the formal entry includes an extra line that is not required, select "NIX as the tetunt name and leave the Dead Canswers blank ters) in the very last row of the journal entry Act Name DOC 2.2009 Das Rott 10,000 come to be 71.000 no 5.000 Support Assume that there was a December 31, 2019, balance of 54.000 in the deferred to asset account. How would your answer to part a changer . Note: List multiple debits (whes applicable in alphabetical order and list multiple credit when applicable) in alphabetical order . Note: If the formal entry includes an extra line that is not required, select "NA as the account name and leave the Dr. and Crawers blank trero) in the very last row of the journal entry Date Arunt Name Dec 31, 2000 Der AS income Tax 15.00 GR 6.000 . . 20,000 Dr. Cr. Date Account Name Dec. 31, 2020 Deferred Tax Asset Income Tax Expense Income Tax Payable 10,000 0 75,000 0 85,000 0 0 0 of $4,000 in the deferri Jetical order and list mul s not required, select "N . Assume that Deferred Tax Asset Valuation Allowance for Deferred Tax Asset Note: List m Income Tax Payable Note: If the Liability for Unrecognized Tax Benefits Deferred Tax Liability Date Income Tax Expense Dec. 31. 2020 D N/A Income Tax Expense Income Tax Payable Dr. Cr. 6,000 0 79,000 0 DO 0 85.000

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