In 2 0 2 3 , Metlock Inc, reported pretax accounting income of $ 1 2 9 , 5 0 0 In 2 0 2 4 , the company had a pretax accounting income of $ 6 1 , 6 0 0 In 2 0 2 5 , the company had pretax losses of $ 2 0 9 , 1 0 0 The following year, the company's pretax accounting Income was $ 1 6 8 , 0 0 0 Income for tax purposes was the same as for accounting for all years Metlock's tax rate was 2 5 for 2 0 2 3 and 2 0 2 4 , 2 8 for 2 0 2 5 and 2 6 for 2 0 2 6 and subsequent years The tax rates were all enacted by the beginning of 2 0 2 3 Prepare the journal entries for the years 2 0 2 3 to 2 0 2 6 to record income taxes Assume that Metlock's policy is to carry back any tax losses first, and that at the end of 2 0 2 5 , the loss carnyforward benefits are judged more likely than not to be realized in the future Metlock follows IFRS ( Credit account titles are automotically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter O for the amounts Record joumal entries in the order presented in the problem tist all debit entries before credit entries ) Date Account Titles and Explanation Debit Credit ( To record benefit from loss carryback )

Question

In 2 0 2 3 , Metlock Inc, reported pretax accounting income of $ 1 2 9 , 5 0 0   In 2 0 2 4 , the company had a pretax accounting income of $ 6 1 , 6 0 0   In 2 0 2 5 , the company had pretax losses of $ 2 0 9 , 1 0 0   The following year, the company's pretax accounting Income was $ 1 6 8 , 0 0 0   Income for tax purposes was the same as for accounting for all years  Metlock's tax rate was 2 5   for 2 0 2 3 and 2 0 2 4 , 2 8   for 2 0 2 5 and 2 6   for 2 0 2 6 and subsequent years  The tax rates were all enacted by the beginning of 2 0 2 3   Prepare the journal entries for the years 2 0 2 3 to 2 0 2 6 to record income taxes  Assume that Metlock's policy is to carry back any tax losses first, and that at the end of 2 0 2 5 , the loss carnyforward benefits are judged more likely than not to be realized in the future  Metlock follows IFRS  ( Credit account titles are automotically indented when the amount is entered  Do not indent manually  If no entry is required, select   No Entry  for the account titles and enter O for the amounts  Record joumal entries in the order presented in the problem  tist all debit entries before credit entries  ) Date Account Titles and Explanation Debit Credit ( To record benefit from loss carryback )

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Question

In 2 0 2 3 , Metlock Inc, reported pretax accounting income of $ 1 2 9 , 5 0 0 . In 2 0

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