Saginaw Inc. completed its first year of operations with a pretax loss $639,000, which the company will carry forward. The $109,000 book depreciation. Management has determined that it should record a va the current tax expense is zero, prepare the journal entries to record entry is required for a transaction/event, select "No Journal Entry F Required: a. Prepare the journal entry to record the deferred tax consequence valuation allowance. b. Prepare the journal entry to record the deferred tax consequence

c. Prepare the journal entry to record the deferred tax consequence View transaction list Journal entry worksheet

oretax loss of $530,000. The tax return showed a net operating 9,000 book-tax difference results from excess tax depreciation record a valuation allowance equal to the net deferred tax asse s to record the deferred tax provision and the valuation allowan rnal Entry Required" in the first account field.) onsequences for recognition of the current year NOL before cons onsequences of the depreciation book-tax difference. onsequences of the valuation allowance. of $530,000. The tax return showed a net operating loss of -tax difference results from excess tax depreciation over book luation allowance equal to the net deferred tax asset. Assuming the deferred tax provision and the valuation allowance. (If no Required" in the first account field.) ces for recognition of the current year NOL before considering th ces of the depreciation book-tax difference. ces of the valuation allowance. Saginaw Inc. completed its first year of operations with a pre 639,000 , which the company will carry forward. The $109,0 tepreciation. Management has determined that it should rec he current tax expense is zero, prepare the journal entries entry is required for a transaction/event, select "No Journe Required: a. Prepare the journal entry to record the deferred tax cons valuation allowance. b. Prepare the journal entry to record the deferred tax cons c. Prepare the journal entry to record the deferred tax conse