Ramsey Inc. has $600,000 of income before income taxes, a 35% tax rate, and $320,000 of taxable

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Ramsey Inc. has $600,000 of income before income taxes, a 35% tax rate, and $320,000 of taxable income. Provide the journal entry for the current year’s taxes.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Dec 10, 2011 10:16 AM

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Ramsey Inc. has $600,000 of income before income taxes, a 35% tax rate, and $320,000 of taxable

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Income Tax Expense 210000 Income Tax Payable 112000 D...View the full answer

Accounting

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