Zekany Corporation would have had identical income before taxes on both its income tax returns and income statements for the years

$2024$ through $2025$ except for differences in depreciation on an operational asset. The asset cost $$160,000$ and is depreciated for

income tax purposes in the following amounts:

The operational asset has a four$-$year life and no residual value. The straight$-$line method is used for financial reporting purposes.

Income amounts before depreciation expense and income taxes for each of the four years were as follows:

Assume the income tax rate for $2024$ and $2025$ was $30\%$; however, during $2025,$ tax legislation was passed to raise the tax rate to

$40\%$ beginning in $2026.$ The $40\%$ rate remained in effect through the years $2026$ and $2027.$ Both the accounting and income tax

periods end December $31.$

Required:

Prepare the journal entries to record income taxes for the years $2024$ through $2027.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.Zekany Corporation would have had identical income before taxes on both its income tax returns and income statements for the years

$2024$ through $2025$ except for differences in depreciation on an operational asset. The asset cost $$180,000$ and is depreciated for

income tax purposes in the following amounts:

The operational asset has a four$-$year life and no residual value. The straight$-$line method is used for financial reporting purposes.

Income amounts before depreciation expense and income taxes for each of the four years were as follows:

Assume the income tax rate for $2024$ and $2025$ was $30\%$; however, during $2025,$ tax legislation was passed to raise the tax rate to

$40\%$ beginning in $2026.$ The $40\%$ rate remained in effect through the years $2026$ and $2027.$ Both the accounting and income tax

periods end December $31.$

Required:

Prepare the journal entries to record income taxes for the years $2024$ through $2027.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet