A corporation has paid estimated income taxes of $41,000 during the year 2016. At the end of

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A corporation has paid estimated income taxes of $41,000 during the year 2016. At the end of the year, the corporation's tax bill is computed to be $47,500. Give the general journal entry to adjust the Income Tax Expense account.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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