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E 16-21 Multiple temporary differences; record income taxes [ LO16-2, LO16-3 The information that follows pertains to Esther Food Products: a. At December 31, 2024,
E 16-21 Multiple temporary differences; record income taxes [ LO16-2, LO16-3 The information that follows pertains to Esther Food Products: a. At December 31, 2024, temporary differences were associated with the following future taxable (deductible) amounts: b. No temporary differences existed at the beginning of 2024. c. Pretax accounting income was $80,000 and taxable income was $15,000 for the year ended December 31, 2024. d. The tax rate is 25%. Required: Determine the amounts necessary to record income taxes for 2024 , and prepare the appropriate journal entry
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