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Required: 3. Complete the following table assuming Music estimates its tax liability for the year 2020 to be $661,500 (Do not round Intermediate calculations.) Apt.
Required: 3. Complete the following table assuming Music estimates its tax liability for the year 2020 to be $661,500 (Do not round Intermediate calculations.) Apt. June July-Sept Oct-Dec. Income before tax Extinued income tax experse Pedi $ 292 000 $ 422 000 $ 442 000 $ 522,000 4. Assuming that actual tax for the year 2020 was determined to be $772,000, prepare the appropriate adjusting entry at year end to bring the balance in the Income Tax Expense account to the correct balance, assuming no accrual has yet been recorded for the fourth Quarter
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