Do this final adjusting entry after preparing the Income Statement through the line "Income Before Income Taxes": Corporate taxes are due in four estimated quarterly payments on April 15, June 15, September 15, and December 15, However, for the purposes of this ABC illustration, we will assume that estimates are not paid, and that the tax is paid in full on the return's March 15, 2022 due date. ABC's income tax rate is 20%. The entire year's income tax expense was estimated at the beginning of 2021 to be $52,000, so January through November income tax expense recognized amounts to $47,667 (11/12 months). Since we are assuming estimates are not paid during the yea, the balance in Income taxes payable represents income tax aceted for January through November. Assume no defeated tax assets of deferred tax liabilities. Based on the income before income taxes figure from the income statement, calenlite and record December's income tax expense adjustment so that the entire year's tax expense is correct (ie the difference between total income tax expense and the amount alteady accrued through Nove 14 Do this final adjusting entry after preparing the Income Statement through the line "Income Before Income Taxex": Corporate taxes are due in four estimated quarterly payments on April 15, June 15, September 15, and December 15, However, for the purposes of this ABC illustration, we will assume that estimates are not paid, and that the tax is paid in full on the return's March 15, 2022 due date. ABC's income tax rate is 20%. The entire year's income tax expense was estimated at the beginting of 2021 to be 352,000. so January through November income tax expense recognized amounts to $47,667 (11/12 months) Since we are assuming estimates are not paid during the year, the balance in Income taxes payable tepresents income tax accrued for January through November. Assume no deferred tax assets or deferred tax liabilities. Based on the income before income taxes figure from the income statement, calculate and record December's income tax expense adjustment so that the entire year's tax expense is correct (ie the difference between total income tax expense and the amount alteady accrued through Novem wyaurer preparing the Income Statement through the line "Income Before Income Taxes": Corporate taxes are due in four estimated quarterly payments on April 15. June 15, September 15, and December 15. However, for the purposes of this ABC illustration, we will assume that estimates ate not paid, and that the fax is paid in full on the return's March 15, 2022 due date. ABC's income tax rate is 20%. The entire year's income tax expense was estimated at the beginning of 2021 to be $52,000, so January through November income tax expense recognized amounts to $47,667 (11/12 months). Since we are assuming estimates are not paid during the year, the balance in Income taxes payable represents income tax accrued for Jamary through November. Assume no deferred to assets or defeued tax libulities Based on the income before income taxes figure from the income statement, calculate and record December's income tax expense distine so that the entire year's tax expense is correct (ie the difference between total income tax expeuse the amounlreach aceed tough Norena Do this final adjusting entry after preparing the Income Statement through the line "Income Before Income Taxes": Corporate taxes are due in four estimated quarterly payments on April 15, June 15, September 15, and December 15, However, for the purposes of this ABC illustration, we will assume that estimates are not paid, and that the tax is paid in full on the return's March 15, 2022 due date. ABC's income tax rate is 20%. The entire year's income tax expense was estimated at the beginning of 2021 to be $52,000, so January through November income tax expense recognized amounts to $47,667 (11/12 months). Since we are assuming estimates are not paid during the yea, the balance in Income taxes payable represents income tax aceted for January through November. Assume no defeated tax assets of deferred tax liabilities. Based on the income before income taxes figure from the income statement, calenlite and record December's income tax expense adjustment so that the entire year's tax expense is correct (ie the difference between total income tax expense and the amount alteady accrued through Nove 14 Do this final adjusting entry after preparing the Income Statement through the line "Income Before Income Taxex": Corporate taxes are due in four estimated quarterly payments on April 15, June 15, September 15, and December 15, However, for the purposes of this ABC illustration, we will assume that estimates are not paid, and that the tax is paid in full on the return's March 15, 2022 due date. ABC's income tax rate is 20%. The entire year's income tax expense was estimated at the beginting of 2021 to be 352,000. so January through November income tax expense recognized amounts to $47,667 (11/12 months) Since we are assuming estimates are not paid during the year, the balance in Income taxes payable tepresents income tax accrued for January through November. Assume no deferred tax assets or deferred tax liabilities. Based on the income before income taxes figure from the income statement, calculate and record December's income tax expense adjustment so that the entire year's tax expense is correct (ie the difference between total income tax expense and the amount alteady accrued through Novem wyaurer preparing the Income Statement through the line "Income Before Income Taxes": Corporate taxes are due in four estimated quarterly payments on April 15. June 15, September 15, and December 15. However, for the purposes of this ABC illustration, we will assume that estimates ate not paid, and that the fax is paid in full on the return's March 15, 2022 due date. ABC's income tax rate is 20%. The entire year's income tax expense was estimated at the beginning of 2021 to be $52,000, so January through November income tax expense recognized amounts to $47,667 (11/12 months). Since we are assuming estimates are not paid during the year, the balance in Income taxes payable represents income tax accrued for Jamary through November. Assume no deferred to assets or defeued tax libulities Based on the income before income taxes figure from the income statement, calculate and record December's income tax expense distine so that the entire year's tax expense is correct (ie the difference between total income tax expeuse the amounlreach aceed tough Norena