For the year ended June 30, 2014, Viceron Inc. had Service Revenue of $800,000 and Operating Expenses

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For the year ended June 30, 2014, Viceron Inc. had Service Revenue of $800,000 and Operating Expenses of $575,000. The company has a 15% income tax rate. It has not paid any income tax installments or accrued for income tax expense. Prepare

(a) the journal entry to record income tax, and

(b) the income statement.

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Accounting Principles Part 3

ISBN: 978-1118306802

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Mar 30, 2017 12:33 PM

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For the year ended June 30, 2014, Viceron Inc. had Service Revenue of $800,000 and Operating Expenses

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a June 30 Income Tax Expense 33750 Income Tax Payable 33750 800000 575000 15 b ...View the full answer

Accounting Principles Part 3

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