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The accounting income (loss) figures for Whispering Winds Corporation are as follows: 2018 $166,000 2019 250,000 2020 85,000 2021 (166,000) 2022 (392,000) 2023 147,000 2024

The accounting income (loss) figures for Whispering Winds Corporation are as follows: 2018 $166,000 2019 250,000 2020 85,000 2021 (166,000) 2022 (392,000) 2023 147,000 2024 153,000 Accounting income (loss) and taxable income (loss) were the same for all years involved. Assume a 30% tax rate for 2018 and 2019, and a 25% tax rate for the remaining years. Prepare the journal entries for each of the years 2020 to 2024 to record income tax expense and the effects of the tax loss carrybacks and carryforwards, assuming Whispering Winds uses the carryback provision first. All income and losses relate to normal operations and it is more likely than not that the company will generate substantial taxable income in the future. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Year Account Titles and Explanation (To record benefit from loss carryback) (To record deferred benefit from loss carryforward) (To record current tax expense) (To record deferred tax expense) eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 2 used Submit

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