I need to make adjusting entries for the following-

$1,500 in meal and entertainment expenses show as a permanent difference for tax.

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

MACRS depreciation was $209,301 higher than book. adjusting entry is needed here 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).

This is the list of accounts that I need to make the entries for-From this list I need to pick where to make each adjusting entry.

Marketable Securities

Baking Equipment

Accumulated Depreciation

Patent

Income Taxes Currently Payable

Accrued Pension Liability

Accrued Employees Health Insurance

Lease Liability

Deferred Tax Liability

Rent Expense

Repairs and Maintenance

Misc. Expense

Depreciation Expense

Pension Expense

Retired Employees Health Ins.

Patent Amortization

Unrealized Gain/(Loss) on Marketable Securities Held for Sale

Income Taxes

Deferred tax Expense-