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Tamarisk Corporation has pretax financial income for loss, from 2015 through 2021 as follows. 2015 2016 1198 000 2017 2018 2019 2020 2021 Income (Loss)
Tamarisk Corporation has pretax financial income for loss, from 2015 through 2021 as follows. 2015 2016 1198 000 2017 2018 2019 2020 2021 Income (Loss) Tax Rate $63,360 (198,000) 20% 118,800 20 % 39,600 20% 138,600 (79,200) 79,200 25 % Pretax financial income floss) and taxable income (loss) were the same for all years since Tamarisk has been in business. In recording the benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized. (a) - Your answer is partially correct. What entries for income taxes should be recorded for 2016? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Income Tax Refund Receivable 15.840 Bencfit Duc to loss Carrybark 15.40
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