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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 $ 30,000 10,000 (5,000) b. No temporary differences existed at the beginning of 2018. c. Pretax accounting income was $43,000 and taxable income was $8,000 for the year ended December 31, 2018. d. The tax rate is 30%. Required: Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018
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