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Please help me solve this At the end of 2024 , Skysong Company has $183,700 of cumulative temporary differences that will result in reporting the

Please help me solve this

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At the end of 2024 , Skysong Company has $183,700 of cumulative temporary differences that will result in reporting the following future taxable amounts. Tax rates enacted as of the beginning of 2023 are: Skysong's taxable income for 2024 is $311,900. Taxable income is expected in all future years. (a) Prepare the journal entry for Skysong to record income taxes payable, deferred income taxes, and income tax expense for 2024 , assuming that there were no deferred taxes at the end of 2023. (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 0 for the amounts.) (b) Prepare the journal entry for Skysong to record income taxes payable, deferred income taxes, and income tax expense for 2024 , assuming that there was a balance of $20,900 in a Deferred Tax Liability account at the end of 2023. (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 0 for the amounts.) At the end of 2024 , Skysong Company has $183,700 of cumulative temporary differences that will result in reporting the following future taxable amounts. Tax rates enacted as of the beginning of 2023 are: Skysong's taxable income for 2024 is $311,900. Taxable income is expected in all future years. (a) Prepare the journal entry for Skysong to record income taxes payable, deferred income taxes, and income tax expense for 2024 , assuming that there were no deferred taxes at the end of 2023. (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 0 for the amounts.) (b) Prepare the journal entry for Skysong to record income taxes payable, deferred income taxes, and income tax expense for 2024 , assuming that there was a balance of $20,900 in a Deferred Tax Liability account at the end of 2023. (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 0 for the amounts.)

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