1 question

please read the question and requirements carefully

1 question

with multiple pictures of requirements

Apha Corporation roports the folowina resits for the current voan: Apha Corporation reports the following resulls for the current year View the ourtert weactesillis. Ylew the tox orovition crocess. Bead the roavicements. Current Year Results Requirements a. Prepare a reconcilation of Alpha's taxable income before special deductent with its bock income. b. Prepare a tax provision feconciliation as in 3 teo 9 of the fux Provision Process Assume a 21% tax rale The following steps outline the approach to provide for income taxes in the financial statements. This process addresses only federal income taxes. 1. Identify temporary differences by comparing the book and tax bases of assets and liabilities, and identify tax carryovers. 2. Prepare "roll forward" schedules of temporary differences that tabulate cumulative differences and current-year changes. 3. In the roll forward schedules, apply the appropriate statutory tax rates to determine the ending balances of deferred tax assets and liabilities. 4. Adjust deferred tax assets by a valuation allowance if necessary. 5. Adjust the income tax expense for uncertain tax positions if necessary. 6. Determine current federal income taxes payable, which, in many cases, also is the current federal income tax expense for book purposes. 7. Determining the total federal income tax expense (benefit). 8. Prepare and record tax related journal entries. 9. Prepare a tax provision reconciliation. 10. Prepare the tax rate reconciliation. 11. Prepare financial statements. Alpha Corporation reports the following results for the current year: View the current year results. Read the requirements. Apha Corporation reports the following results for the current year: Yow the curront ypar results. Raad the reguirements. Apha Corporation roports the folowina resits for the current voan: Apha Corporation reports the following resulls for the current year View the ourtert weactesillis. Ylew the tox orovition crocess. Bead the roavicements. Current Year Results Requirements a. Prepare a reconcilation of Alpha's taxable income before special deductent with its bock income. b. Prepare a tax provision feconciliation as in 3 teo 9 of the fux Provision Process Assume a 21% tax rale The following steps outline the approach to provide for income taxes in the financial statements. This process addresses only federal income taxes. 1. Identify temporary differences by comparing the book and tax bases of assets and liabilities, and identify tax carryovers. 2. Prepare "roll forward" schedules of temporary differences that tabulate cumulative differences and current-year changes. 3. In the roll forward schedules, apply the appropriate statutory tax rates to determine the ending balances of deferred tax assets and liabilities. 4. Adjust deferred tax assets by a valuation allowance if necessary. 5. Adjust the income tax expense for uncertain tax positions if necessary. 6. Determine current federal income taxes payable, which, in many cases, also is the current federal income tax expense for book purposes. 7. Determining the total federal income tax expense (benefit). 8. Prepare and record tax related journal entries. 9. Prepare a tax provision reconciliation. 10. Prepare the tax rate reconciliation. 11. Prepare financial statements. Alpha Corporation reports the following results for the current year: View the current year results. Read the requirements. Apha Corporation reports the following results for the current year: Yow the curront ypar results. Raad the reguirements