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which of the following entries will be on luded in the journal entry Crane Corp. has pretax accounting income of $100,000. Crane has rent received
which of the following entries will be on luded in the journal entry
Crane Corp. has pretax accounting income of $100,000. Crane has rent received in advance of $10,000. It is expected that Crane will report the revenue on the income statement in the following year when the performance obligation is satisfied. Crane has tax depreciation that is $25,000 more than depreciation expense for financial reporting purposes. The enacted tax rate is 30%. Which of the following entries will be included in the journal entry to record income tax at year-end? (Select all that apply.) Credit deferred tax liability $4,500. Credit deferred tax liability $7,500. Credit taxes payable $25,500. Debit income tax payable $30,000 Debit deferred tax asset $3,000 Step by Step Solution
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