Question: HELPPOP ASAPPPP PLSSS THE ANSWER IS INCORRECT SHOW ME THE CORRECT Lyons Company deducts insurance expense of $210,000 for tax purposes 3 points in 2021,

HELPPOP ASAPPPP PLSSS

THE ANSWER IS INCORRECT SHOW ME THE CORRECT HELPPOP ASAPPPP PLSSS THE ANSWER IS INCORRECT SHOW ME THE CORRECT

Lyons Company deducts insurance expense of $210,000 for tax purposes 3 points in 2021, but the expense is not yet recognized for accounting purposes. In 2022 2023, and 2024. no insurance expense will be deducted for tax purposes, but $70,000 of insurance expense will be reported for accounting purposes in each of these years. Lyons Company has a tax rate of 20% and income taxes payable of $180,000 at the end of 2021. There were no deferred taxes at the beginning of 2021. What is the amount of income tax expense for 2021? . 234,000 210,000 222.000 180,000

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