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The following information is for Hulk Gym's first year of operations. Amounts are in millions of dollars. The enacted tax rate is 30%. Future Amounts
The following information is for Hulk Gym's first year of operations. Amounts are in millions of dollars. The enacted tax rate is 30%. Future Amounts Year Future Taxable Amounts 2013 20142015 2016 2017 Total S60 Accounting income Temporary difference Prepaid insurance 42) S3 S3 S3S3 S 12 Taxable income$48 Required: Prepare a journal entry to record the income tax expense for the year 2013. Show all computations
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