Brief Exercise 105

The records for Bosch Co. show this data for 2018:

		Pretax financial income is $740,000. The tax rate is 30%. PART 1: Schedule of Pretax Financial Income and Taxable Income for 2018 Pretax Financial Income $ Permanent Differences Life Insurance $ Tax exempt Interest $ Tempory Differences Installment Sales $ Extra Depreciation $ Warranties $ Taxable Income $ PART 2: Prepare the Jounal entry to record taxes for 2018 Income Tax Expense Deferred tax asset Deferred tax liability Income tax payable