The following information is available for Marigold Corporation for $2024($its first year of operations$).$

Excess of tax depreciation over book depreciation, $$39,600.$ This $$39,600$ difference will reverse equally over the years

$2025-2028.$

Deferral, for book purposes, of $$21,900$ of rent received in advance. The rent will be recognized in $2025.$

Pretax financial income, $$271,300.$

Tax rate for all years, $30\%.$

$($a$)$

Your answer is correct.

Compute taxable income for $2024.$

Taxable income $

eTextbook and Media

List of Accounts

Attempts: $1$ of $3$ used

$($b$)$

Prepare the joumal entry to record income tax expense, deferred income taxes, and income taxes payable for $2024.($List all debit

entries before credit entries. 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 $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit