Ch 16 HW Help Save A EN Submit The information that follows pertains to Richards Refrigeration, Inc.: a. At December 31, 2018, temporary differences existed between the financial statement carrying amounts and the tax bases of the following: 02:56:55 Buildings and equipment (net of accumulated depreciation) Prepaid range Liability-lous contingency asi in million Puture Taxable Tax (Deductible) Amount $103 $ 43 63 (38) carrying Amount $146 63 38 b. No temporary differences existed at the beginning of 2018 c. Pretax accounting income was $213 million and taxable income was $145 million for the year ended December 31, 2018. The tax rate is 30% Required: 1. Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018 2. What is the 2018 net income? Complete this question by entering your answers in the tabs below. Required Calculation Required 16 Required 2 Help Save & Exh Sub 4. Vid is U ZUIO TITUITIVT 5 Complete this question by entering your answers in the tabs below. Required 1 Calculation Required 1 6 Required 2 02:55:56 Complete the following table given below to record income taxes for 2018. (Enter your answers in millions rounded to 1 decimal place (1.e., 5,500,000 should be entered as 5.5). Negative amounts should be entered with a minus sign.) X Tax Rate % Tax $ (5 in millions) 213.0 Recorded as Pretax accounting income Permanent differences 213.0 X $ 0.0 Income subject to taxation Temporary Differences Depreciation X Prepaid insurance X x - Liability - loss contingency Income taxable in current year $ 213.0 x Raquel Required 1 GJ > . Ch. 16 HW 0 Saved 5 Required 1 Calculation Required 1 GJ Required 2 Prepare the appropriate journal entry to record income taxes for 2018. (If no entry is required for a tre entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (I. 5.5)) 8 02:55:35 View transaction list Journal entry worksheet Record 2018 income taxes. Note: Enter debits before credits. General Journal Debit Credit Event 1 IMG Graw Saved 16 HW 0 b. No temporary differences existed at the beginning of 2018. c. Pretax accounting income was $213 million and taxable income was $145 million for the ye rate is 30% 5 Required: 1. Complete the following table given below and prepare the appropriate journal entry to rece 2. What is the 2018 net income? 02:55:20 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculation Required 1 GJ What is the 2018 net income? (Enter your answers in millions rounded to 1 decimal place (I.e., as 5.5).) Net income million
