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The information that follows pertains to Esther Food Products: a. At December 31, 2018, temporary differences were associated with the following future taxable (deductible) amounts:
The information that follows pertains to Esther Food Products: a. At December 31, 2018, temporary differences were associated with the following future taxable (deductible) amounts: Depreciation Prepaid expenses Warranty expenses (10,00) $66,000 28,000 b. No temporary differences existed at the beginning of 2018 c. Pretax accounting income was $109,000 and taxable income was $25,000 for the year ended December 31, 2018 d. The tax rate is 45% Required: Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018. Required: Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018. Complete this question by entering your answers in the tabs below. General Calculation Journal Complete the following table given below to record income taxes for 2018. (Negative amounts should be entered with a minus sign.) x $ Recorded as: Tax Rate X Pretax accounting income S 109,000 Permanent differences Income subject to taxation 109,000 $ 0 X Temporary Differences X X X Income taxable in current year 109,000 X General Journal Calculation Journal entry worksheet Record 2018 income taxes. Note: Enter debits before credits. Event Debit General Journal Credit 1 View cIeneraliournal Record entry Clear entry
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