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Oriole Corporation has one temporary difference at the end of 2025 that will reverse and cause taxable amounts of $59,400 in 2026, $64,200 in 2027,
Oriole Corporation has one temporary difference at the end of 2025 that will reverse and cause taxable amounts of $59,400 in 2026, $64,200 in 2027, and $69,700 in 2028. Oriole's pretax financial income for 2025 is $316,600, and the tax rate is 40% for all years. There are no deferred taxes at the beginning of 2025. (a) Your Answer Correct Answer (Used) Compute taxable income and income taxes payable for 2025. Taxable income Income taxes payable $ LA 123,300 49,320 SUPPOE Oriole Corporation has one temporary difference at the end of 2025 that will reverse and cause taxable amounts of $59,400 in 2026 , $64,200 in 2027 , and $69,700 in 2028 . Oriole's pretax financial income for 2025 is $316,600, and the tax rate is 40% for all years. There are no deferred taxes at the beginning of 2025 . (a) Compute taxable income and income taxes payable for 2025. Taxable income Income taxes payable Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.)
Oriole Corporation has one temporary difference at the end of 2025 that will reverse and cause taxable amounts of $59,400 in 2026, $64,200 in 2027, and $69,700 in 2028. Oriole's pretax financial income for 2025 is $316,600, and the tax rate is 40% for all years. There are no deferred taxes at the beginning of 2025. (a) Your Answer Correct Answer (Used) Compute taxable income and income taxes payable for 2025. Taxable income Income taxes payable $ LA 123,300 49,320 SUPPOE
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