I have to create adjusting entries to the trial balance but I'm not sure how to post them or if I post the full amounts or a portion.

Tax information and implications

$1,500 in meal and entertainment expenses show as a permanent difference for tax.Prepare the necessary adjusting entry.

The company uses straight line depreciation for book and MACRS depreciation for the tax return

MACRS depreciation was $209,301 higher than book.Prepare the adjusting entry for the deferred tax.

There have been recent tax structure changes the could impact the company.Peyton Approved has been a C Corp since the beginning of these changes.Peyton provides for taxes at 25% of pretax income (20% Federal, 5% state).