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Urgent needed within 30 minutes. Q4. Zebra Corporation has one temporary difference at the end of 2019 that will reverse and cause deductible amounts of
Urgent needed within 30 minutes.
Q4. Zebra Corporation has one temporary difference at the end of 2019 that will reverse and cause deductible amounts of $50,000 in 2020, $65,000 in 2021, and $40,000 in 2022. Zebra's pretax financial income for 2019 is $200,000 and the tax rate is 34% for all years. There are no deferred taxes at the beginning of 2019. Zebra expects to be profitable in the future. Instructions [Marks: 12] a) Compute taxable income and income taxes payable for 2019. b) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2019
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