SUNLAND CORPORATION HAS ONE TEMPORARY DIFFERENCE AT THE END OF 2020 THAT WILL REVERSE AND CAUSE TAXABLE AMOUNTS OF 59,400 IN 2021, 64,200 IN 2022 AND 69,700 IN 2023. SUNLANDS PRETAX FINANCIAL INCOME FOR 2020 IS 316,600 AND THE TAX RATE IS 30% FOR ALL YEARS. THERE ARE NO DEFERRED TAXES AT THE BEGINNING OF 2020 COMPUTE TAXABLE I INCOME AND INCOME TAXES PAYABLE FOR 2020. prepare the journal entry to record income tax expense, deferred income taxes and income taxes payable for 2020

SUNLAND CORPORATION HAS ONE TEMPORARY DIFFERENCE AT THE END OF 2020 THAT WILL REVERSE AND CAUSE TAXABLE AMOUNTS OF 59,400 IN 2021, 64,200 IN 2022 AND 69,700 IN 2023. SUNLANDS PRETAX FINANCIAL INCOME FOR 2020 IS 316,600 AND THE TAX RATE IS 30% FOR ALL YEARS. THERE ARE NO DEFERRED TAXES AT THE BEGINNING OF 2020 COMPUTE TAXABLE I INCOME AND INCOME TAXES PAYABLE FOR 2020. prepare the journal entry to record income tax expense, deferred income taxes and income taxes payable for 2020

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter14: Taxes On The Financial Statements

Section: Chapter Questions

Problem 4BCRQ

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