Question: can you answer this question for me please ? The following information is available for Flounder Inc. for 2019 : 1. Excess of tax depreciation
can you answer this question for me please ?


The following information is available for Flounder Inc. for 2019 : 1. Excess of tax depreciation over book depreciation, $82,400. This $82,400 difference will reverse equally over the next 4 years. 2. Deferral, for book purposes, of $24,800 of subscription income received in advance. The subscription income will be earned in 2020. 3. Pretax financial income, $153,100. 4. Tax rate for all years, 20%. Compute taxable income for 2019. Taxable income \$ Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020 , assuming taxable income of $236,700. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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