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Royal Fence Company incurred and loss for years. The does not have book that she comes Click the icon to view the data) Future tax rates are expected to be 34 Royal always lects the car accordion There were notion of the best Prepare the journantys) required to record the Year 3 ret operating oss Records, Form at den nyeste blank Exclude explanations from wymas) Begin by preparing the journal entry feeded to record the portion of the operating that can cryback Account Year) Income Taxes Payable Data e Deferred Tax Asset 57000 come il Year Now prepare the journal entry, it needed to record the portion of the net per cond 5 Year 30000 10000 170.00 Account Domred Tax A Income Taxes Payable 400) Pa Done Royal Fence Company incurred a net loss for Year 3. The firm does not have any book tax differences we present the results of operations for the fest 3 years of the company's operations Click the icon to view the data) Future tax rates are expected to be 34% Royal always elects the carryback/carryforward option. There are no uncertainties regarding realization of future tax benefits Prepare the journal entry(s) required to record the Year 3 net operating loss. (Record debits first the credits for transactions that do not require an entry, make sure to select Monty the first blank Exclude explanations from any journal entries) Begin by preparing the journal entry needed to record the portion of the net operating loss that Royal can carry back Account Income Taxes Payable Year 3 57800 57800 Data Table - X No Entry Required Deferred Revenue Deferred Tax Asset Deferred Tax Liability Income Tax Benett Income Tax Refund Receivable Income Taxes Payable Retained Earnings e portion of the net penting loss that Royal Year Tax Rate 1 Year) 430000 Income Loss) before Tax $ 160.000 170.000 (430,000 34 430000 3 34 Print Done