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Required: Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018. The information that follows pertains to
Required: Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018.
The information that follows pertains to Esther Food Products: a. At December 31, 2018, temporary differences were associated with the following future taxable (deductible) amounts 5 60,000 17,000 Depreviation Warranty axpences b. No temporary differences existed at the beginning of 2018. c. Pretax accounting income was $80,000 and taxable income was $15,000 for the year ended December 31, 2018. d. The tax late is 40%. Genera Calculationrnal Complete the following table given below to record income taxes for 201R. (Negative amounts should be entered with a minus siqn.) Tax Rate- Tax S Re Preliax acounling iricorne S 00,000 Income subject to taxation Temporary Ditterences Calculation General Journal>Step by Step Solution
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