In $2011$ the company had a downturn and they had a $($$$200,000)$ GAAP financial

accounting loss for that year. The company had no new originating timing

differences during $2011,$ but they did experience the two timing reversals that

were projected when completing the $2010$ deferred tax schedule $($see question $1).$

Assume the company will have adequate operating income in $2012$ to cover any

excess carryforwards that cannot be absorbed on the deferred tax schedule.

A$.$ Prepare below a deferred income tax schedule for $2011.$

$20112012$

B$.$ Prepare the general journal entry to accrue income taxes for $2011$