For the year ended December 3 1 , 2 0 X 1 , Tyre Company reported pre tax financial statement income of $ 7 5 0 , 0 0 0 Its taxable income was $ 6 5 0 , 0 0 0 The difference was due to the use of accelerated depreciation for income tax purposes and straight line for financial reporting Tyre's income tax rate is 2 1 , and it made estimated tax payments of $ 5 4 , 0 0 0 during 2 0 1 Required What amount should Tyre report as the current portion of income tax expense for 2 0 X 1 What amount should Tyre report as the deferred portion of income tax expense for 2 0 X 1 Prepare the journal entry Tyre would make to record 2 0 1 taxes Complete this question by entering your answers in the tabs below Req 1 and 2 What amount should Tyre report as the current portion of income tax expense for 2 0 X 1 What amount should Tyre report as the deferred portion of income tax expense for 2 0 X 1 For the year ended December 3 1 , 2 0 1 , Tyre Company reported pre tax financial statement income of $ 7 5 0 , 0 0 0 Its taxable income was $ 6 5 0 , 0 0 0 The difference was due to the use of accelerated depreciation for income tax purposes and straight line for financial reporting Tyre's income tax rate is 2 1 , and it made estimated tax payments of $ 5 4 , 0 0 0 during 2 0 1 Required What amount should Tyre report as the current portion of income tax expense for 2 0 x 1 What amount should Tyre report as the deferred portion of income tax expense for 2 0 x 1 Prepare the journal entry Tyre would make to record 2 0 1 taxes Complete this question by entering your answers in the tabs below Prepare the journal entry Tyre would make to record 2 0 X 1 taxes ( If no entry is required for a particular transaction, select No journal entry required in the first account field )

Question

For the year ended December 3 1 , 2 0 X 1 , Tyre Company reported pre   tax financial statement income of $ 7 5 0 , 0 0 0   Its taxable income was $ 6 5 0 , 0 0 0   The difference was due to the use of accelerated depreciation for income tax purposes and straight   line for financial reporting  Tyre's income tax rate is 2 1   , and it made estimated tax payments of $ 5 4 , 0 0 0 during 2 0 1   Required  What amount should Tyre report as the current portion of income tax expense for 2 0 X 1   What amount should Tyre report as the deferred portion of income tax expense for 2 0 X 1   Prepare the journal entry Tyre would make to record 2 0 1 taxes  Complete this question by entering your answers in the tabs below  Req 1 and 2 What amount should Tyre report as the current portion of income tax expense for 2 0 X 1   What amount should Tyre report as the deferred portion of income tax expense for 2 0 X 1   For the year ended December 3 1 , 2 0 1 , Tyre Company reported pre   tax financial statement income of $ 7 5 0 , 0 0 0   Its taxable income was $ 6 5 0 , 0 0 0   The difference was due to the use of accelerated depreciation for income tax purposes and straight   line for financial reporting  Tyre's income tax rate is 2 1   , and it made estimated tax payments of $ 5 4 , 0 0 0 during 2 0 1   Required  What amount should Tyre report as the current portion of income tax expense for 2 0 x 1   What amount should Tyre report as the deferred portion of income tax expense for 2 0 x 1   Prepare the journal entry Tyre would make to record 2 0 1 taxes  Complete this question by entering your answers in the tabs below  Prepare the journal entry Tyre would make to record 2 0 X 1 taxes  ( If no entry is required for a particular transaction, select   No journal entry required  in the first account field  )

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Question

For the year ended December 3 1 , 2 0 X 1 , Tyre Company reported pre - tax financial statement income of $ 7

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