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I keep getting this question wrong, need help please! At the end of 2020, Payne Industries had a deferred tax asset account with a bolance

I keep getting this question wrong, need help please!
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At the end of 2020, Payne Industries had a deferred tax asset account with a bolance of $70 mitilion attributable to a temporary book. tax difference of $280 million in a liablity for estimeted expenses. At the end of 2021 , the temporary difference is $208 million. Payne has no other temporary differences and no valuation allowance for the deferred tax asset. Taxable income for 2021 is $504 million and the tax rate is 25\%. Required: 1. Prepare the journal entry(s) to record Payne's income taxes for 2021, assuming it is more ikely than not that the deferred tax asset will be realized in full. 2. Prepare the journal entry(s) to record Payne's income taxes for 2021 , assuming it is more likely than not that only one-fourth of the deferred tax asset ultimately will be realized. Complete this question by entering your answers in the tabs below. Prepare the joumbl entry(s) to record Payne's income taxes for 2021 , assuming it is more wely than not that the deferned tax assot will be realized in full. (1t no entry is reguired for a transactoryowent, yelect "No joumal entry requifed" in the fint accosunt feld. Enter your antwers in millions (0.0,10,000,000 should be entered as 10), ) Required: 1. Prepare the journal entry(s) to record Payne's income taxes for 2021, assuming it is more llikely than not that the deferred tax asse will be realized in full. 2. Prepare the journal entry(s) to record Payne's income taxes for 2021, assuming it is more likely than not that only one-fourth of the deferred tax asset ultimately will be realized. (x) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare the journal entry(s) to record Payne's income taxes for 2021, assuming it is more likely than not that the deferred tax asset will be realized in full. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in milions (L.e., 10,000,000 should be entered as 10 ).) the tax rate is 25\%. Required: 1. Prepare the journal entry(5) to record Payne's income taxes for 2021, assuming it is more likely than not that the deferred tax asset Will be realized in full. 2. Prepare the journal entry(s) to record Payne's income taxes for 2021, assuming it is more likely than not that only one-fourth of the deferred tox asset ultimately will be realized. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare the journal entry(s) to record Payne's incomte taxes for 2021, assuming it is more likely than not that only one-fourth of the defecred tax asset vitimately will be realized. (if ro entry is recuired for o transactionyevent, select "No journal entry required" in the first account nield. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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