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please find and use the headings given in journal question Mercury Limited reported earnings of $155,000 in 20X9. The company has $67,000 of depreciation expense

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please find and use the headings given in journal question

Mercury Limited reported earnings of $155,000 in 20X9. The company has $67,000 of depreciation expense this year, and claimed CCA of $108,000. The tax rate was 30%. At the end of 20x8, there was a $14,000 loss carryforward reported in a deferred tax asset account valued at $3,500, and a deferred tax liability of $38,800 caused by capital assets with a net book value of $680,000 and UCC of $430,000. Required: What is the amount of income tax expense in 20X9? Tax expense Prepare the income tax entry or entries. View transaction list Journal entry worksheet 1 2 Record the entry income tax expense. Prepare the income tax entry or entries. View transaction list Journal entry worksheet 1 2. > Record the entry income tax expense. Note: Enter debits before credits. Date General Journal Debit Credit 20X9 Record entry Clear entry View general journal Prepare the income tax entry or entries. View transaction list Journal entry worksheet

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