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how do you find part A abd B? Mon, Apr 13, 20. Question 7 View Policies Show Attempt History Current Attempt in Progress Windsor Inc.

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Mon, Apr 13, 20. Question 7 View Policies Show Attempt History Current Attempt in Progress Windsor Inc. reports the following pretax income (loss) for both book and tax purposes. Pretax Year Income (Loss) Tax Rate 2018 . $121,000 20 % 2019 93.000 20% 2020 (287,000) 25 % 2021 129.000 25 % The tax rates listed were all enacted by the beginning of 2018. Your Answer Correct Answer (Used) Prepare the journal entries for years 2018-2021 to record income tax expense bent and income taxes payable refundable and the tax effects of the loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized. Credit accounts are automatically indented when amount is entered. Do not inden manually. If no entry is required, select "No Entry for the accounts and enter for the amounts) Debit Credit Date Account Titles and Explanation 2018 Income Tax Expense 24200 Income Tax Payable 2019 Income Tax Dede Ircowy 2020 new pense Deferred Text (To record income taxe) Income Tax Expen Allowance to Reduce Deferred to set to Expected Real (To record lowance) 2021 Income Tax Expense Deferred tax 32.250 (To record income taxes.) Allowance to Reduce Deferred Tax Expected Real (To adjustalowance.) Prepare the income tax section of the 2020 income statement beginning with the line "Operating loss before income taxes." (Enter negativ (45) Windsor Inc. Income Statent (Partial)

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