Question
Shamrock Corporation had income before income taxes of $197,600 in 2020. Shamrocks current income tax expense is $52,100, and deferred income tax expense is $28,100.
Shamrock Corporation had income before income taxes of $197,600 in 2020. Shamrocks current income tax expense is $52,100, and deferred income tax expense is $28,100. Prepare Shamrocks 2020 income statement, beginning with "Income before income taxes". (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
| Shamrock Corporation Income Statement (Partial) December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020 | ||
| CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues | $ | |
| CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues | ||
| CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues | $ | |
| CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues | ||
| CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues | $ | |
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Emile Woolf On Audit Exemption
Authors: Emile Woolf
1st Edition
0863253911, 978-0863253911
