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pls answer a,b & c correctly. i will thumbs up The following facts relate to Coronado Corporation. 1. 2. 3. 4. Deferred tax liability, January
pls answer a,b & c correctly. i will thumbs up The following facts relate to Coronado Corporation. 1. 2. 3. 4. Deferred tax liability, January 1, 2020, $46,400. Deferred tax asset, January 1, 2020, $0. Taxable income for 2020, $110,200. Pretax financial income for 2020, $116,000 Cumulative temporary difference at December 31, 2020. giving rise to future taxable amounts, $278,400. Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, $40,600. Tax rate for all years, 20%. The company is expected to operate profitably in the future. 5. 6. 7. 8. (a) Compute income taxes payable for 2020. Income taxes payable $ O prepare the journal entry to record income tax expense, defferred income taxes, and income taxes payable for 2020. Prepare the income tax expense section of the income statement for 2020, beginning with the line Income before income taxes" b) Account title & explanahan bebit credit ncome tax expense Deferred income tax asset Income tax payable Deferred tax liability Amaint particulars Amaint income before taxes income tax expense Current Deferred Net in come
pls answer a,b & c correctly. i will thumbs up
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