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B. Moore Enterprises has the following information related to its 2018 operations: a. 2018 installment sale of property for $900,000. The sale amount will be

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B. Moore Enterprises has the following information related to its 2018 operations: a. 2018 installment sale of property for $900,000. The sale amount will be collected over the next 3 years (i.e., 2019, 2020, and 2021). b. Unrealized investment gains of $1 50,000 in 2018 (included in income statement) Prepaid expenses paid in 2018- $200,000 (classified as current on balance sheet) d. Interest eaned on U.S. Treasury bonds- $300,000 (included in income statement) Additional information: B.Moore Enterprise's pre-tax book income was $1,830,000 in 2018. The tax rate in 2018s 30%, but based on enacte d law, it is scheduled to become 35% in 2020 . Required: 1. Prepare the appropriate journal entry to record B. Moore Enterprise's 2018 income taxes Show calculations. Incone tax ExP Suppose it was estimated that 30% of the deferred tax asset would not be realized in 2019. Prepare the necessary journal entry to account for this change in estimate. 2. Tox liabiy 3. Due to the excessive spending of the company's founder, B. Moore Enterprises experiences an $800,000 net operating loss in 2022. How would you recommend the company treat this operating loss for both tax and financial reporting purposes? (Hint: you should provide 2 recommendations- one for tax treatment and another for financial reporting treatment)

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