Question: can you answer this question for me please ? Vaughn Inc. reported the following pretax income (loss) and related tax rates during the years 20192022.
can you answer this question for me please ?




Vaughn Inc. reported the following pretax income (loss) and related tax rates during the years 20192022. Pretax financial income (loss) and taxable income (loss) were the same for all years since Vaughn began business. The tax rates from 2019-2022 were enacted in 2019. Prepare the journal entries for the years 2020-2022 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryforward. Assume that Vaughn expects to realize the benefits of any loss carryforward in the year that immediately follows the loss year. (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 O for the amounts.) Prepare the journal entries for the years 2020-2022 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryforward. Assume that Vaughn expects to realize the benefits of any loss carryforward in the year that immediately follows the loss year. (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 portion of the income statement, starting with "Operating loss before income taxes," for 2020 . (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).) Prepare the portion of the income statement, starting with "Income before income taxes," for 2021. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).)
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