Question
Brown Inc.'s net income is $280,00 and its tax rate is 35%. Assuming no book-tax differences, what is the journal entry to record income tax
Brown Inc.'s net income is $280,00 and its tax rate is 35%. Assuming no book-tax differences, what is the journal entry to record income tax expense? (Do not round intermediate calculations. Only round your final answer to the nearest whole dollar.)
Correct Answer is: Income tax expense (d) 150,769 Income Tax Payable (c) 150,769
How was the answer 150,769 calculated?
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Winning Compliance Auditing With Gung Fu Fighting Philosophy
Authors: Phillip Lee
1st Edition
B0CBD8KT6P, 979-8223104414
