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Thank you Paire tasuble amounts Takrates enactint arof the bepinine of 2018 are Tenh ant 2019 roposod 7021 zon inatiater 25 Sheridan's taxable income for
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Paire tasuble amounts Takrates enactint arof the bepinine of 2018 are Tenh ant 2019 roposod 7021 zon inatiater 25 Sheridan's taxable income for 2019 is $311,900. Taxable income is expected in all future years. (a) Prepare the journal entry for Sheridan to record income taxes payable, deferred income taxes, and incorne tax expense for 2019. assuming that there were no deferred taxes at the end of 2018. (Credit account tilies are automatically indented when amount is entered. Do not indent manually, If no entry bs required, select "No Entry' for the account tilles and enter O for the amounts.] (b) Prepare the journal entry for Sheridan to record income tawes payable deferred income tawes, and income tax expense for 2019. assumirg that there was a balance of $20,900 in a Deferred Tax Liability account at the end of 2018. (Credit occount titles are outomoticaly indented when amount is entered. Da not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Step by Step Solution
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