For the year ended December 31, 2014, Tyre Company reported pre-tax financial statement income of $750,000. Its
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1. What amount should Tyre report as the current portion of income tax expense for 2014?
2. What amount should Tyre report as the deferred portion of income tax expense for 2014?
3. Give the journal entry Tyre would make to record 2014 taxes.
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Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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