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The following information is available for Sweet Inc for 2024: 1. Excess of tax depreciation over book depreciation, $82,000. This $82,000 difference will reverse equally
The following information is available for Sweet Inc for 2024: 1. Excess of tax depreciation over book depreciation, $82,000. This $82,000 difference will reverse equally over the next 4 years. 2. Deferral, for book purposes, of $23.100 of subscription income received in advance. The subscription income will be earned in 2025. 3. Pretax financial income, $180,200. 4. Taxrate for all years, 20%. Prepare the journal entry to record income tax expense, deferred income tavess, and income taxus payable for 2024 . (Credil account titles are automaticolly indented when amount Is entered, Do not indent manually. If no entry Is requlred, select "No Enty" for the account titles and enter O for the amounts. List all debit entries before credit entries.)
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