Blue Spruce Inc. reports the following pre-tax incomes (losses) for both financial reporting purposes and tax purposes: 
+ Week 8 Homework Chapters 18 & 19 Question 1 of 5 > -/1 Blue Spruce Inc. reports the following pre-tax incomes losses) for both financial reporting purposes and tax purposes: Year 2018 2019 2020 2021 Accounting Income (Loss) $122.000 99.000 (300,000 1 225.000 Tax Rate 25 % 25 % 30 % The tax rates listed were all enacted by the beginning of 2018. Blue Spruce reports under the ASPE future/deferred income taxes mrshor Prepare the journal entries for cach of the years 2018 to 2021 to record income tax Assume the tax loss is first carried back, and that at the end of 2020, the loss carryforward benefits are judged more likely than not to be realized in the future. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter Ofor the amounts.) Debit Credit Date Account Titles and Explanation 2018 2019 2020 (Ta record benefit from loss carryback) (To record deferred benefit from loss carryforward) + Week & Homework chapters 18 & 19 Question 1 of 5 Prepare the journal entries for each of the years 2018 to 2021 to record income tax Assume the tax loss is first carried hack, and that at the end of 2020, the loss carryforward benefits are judged more likely than not to be realized in the future. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation 2018 2019 2020 (To record beriell from loss carryback) (lo record deferred benefit from loss carryforward) 2021 (To record current tax expense) (To record deferred tax expense) eTextbook and Media + Week 8 Homework Chapters 18 & 19 Question 1 of 5 - / 1 Assuming the tax lossis first carried back and that at the end of 2020, the loss carryforward benefits are judged more likely Liannol lobe realized in the future, prepare the income tax section of the 2020 and 2021 income statemenils, beginning with the line "Income (loss) before income tax" (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es (45).) Blue Spruce Inc. (Partial) Income Statement $ Blue Spruce Inc (Partial) Income Statement $ Textbook and Media + Week 8 Homework Chapters 18 & 19 Question 1 of 5 > -/1 Blue Spruce Inc. reports the following pre-tax incomes losses) for both financial reporting purposes and tax purposes: Year 2018 2019 2020 2021 Accounting Income (Loss) $122.000 99.000 (300,000 1 225.000 Tax Rate 25 % 25 % 30 % The tax rates listed were all enacted by the beginning of 2018. Blue Spruce reports under the ASPE future/deferred income taxes mrshor Prepare the journal entries for cach of the years 2018 to 2021 to record income tax Assume the tax loss is first carried back, and that at the end of 2020, the loss carryforward benefits are judged more likely than not to be realized in the future. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter Ofor the amounts.) Debit Credit Date Account Titles and Explanation 2018 2019 2020 (Ta record benefit from loss carryback) (To record deferred benefit from loss carryforward) + Week & Homework chapters 18 & 19 Question 1 of 5 Prepare the journal entries for each of the years 2018 to 2021 to record income tax Assume the tax loss is first carried hack, and that at the end of 2020, the loss carryforward benefits are judged more likely than not to be realized in the future. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation 2018 2019 2020 (To record beriell from loss carryback) (lo record deferred benefit from loss carryforward) 2021 (To record current tax expense) (To record deferred tax expense) eTextbook and Media + Week 8 Homework Chapters 18 & 19 Question 1 of 5 - / 1 Assuming the tax lossis first carried back and that at the end of 2020, the loss carryforward benefits are judged more likely Liannol lobe realized in the future, prepare the income tax section of the 2020 and 2021 income statemenils, beginning with the line "Income (loss) before income tax" (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es (45).) Blue Spruce Inc. (Partial) Income Statement $ Blue Spruce Inc (Partial) Income Statement $ Textbook and Media
