Coronado Corporation has one temporary difference at the end of 2020 that will reverse and cause taxable amounts of $50,600 in 2021, $55,500 in 2022, and $60,400 in 2023. Coronado's pretax financial income for 2020 is $287,000, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2020. (a) Your Answer Correct Answer Your answer is correct. Compute taxable income and income taxes payable for 2020. (b) Taxable income Income taxes payable eTextbook and Media Solution List of Accounts LA $ LA 120500 36150 Attempts: 2 of 2 used Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes havable for 2020 (Credit account titles are automatically indented when amount is entered Do

Coronado Corporation has one temporary difference at the end of 2020 that will reverse and cause taxable amounts of $50,600 in 2021,$55,500 in 2022 , and $60,400 in 2023 . Coronado's pretax financial income for 2020 is $287,000, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2020. (a) Your answer is correct. Compute taxable income and income taxes payable for 2020. Taxable income Income taxes payable eTextbook and Media Attempts: 2 of 2 used (b) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes