Question

Alliance Inc. reports the following incomes (losses) for both book and tax purposes (assume the carryback provision is used where possible):
The tax rates listed were all enacted by the beginning of 2009.
Instructions
(a) Prepare the journal entries for each of the years 2009 to 2012 to record income taxes.
(b) Prepare the income tax section of the income statements for each of the years 2009 to 2012, beginning with the line “Income (loss) before income taxes.”


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  • CreatedAugust 23, 2015
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