Question: please answer relevant to the format View Policies Current Attempt in Progress Bramble Inc. reports the following pre-tax incomes (losses) for both financial reporting purposes









View Policies Current Attempt in Progress Bramble Inc. reports the following pre-tax incomes (losses) for both financial reporting purposes and tax purposes: Accounting Income Year (Loss) Tax Rate 2018 $129.000 25 % 2019 97.000 25 %6 2020 (303,000 30 % 2021 226.000 30 % The tax rates listed were all enacted by the beginning of 2018. Bramble reports under the ASPE future/deferred income taxes method, olan interaction Pronamh 21 orecordincomat Amethis is thesis back and Prepare the journal entries for each of the years 2018 to 2021 to record income tax. Assume the tax loss is first carried back, and that at the end of 2020, the loss carryforward benefits are judged more likely than not to be realized in the future. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit 2018 Current Tax Expense Income Tax Payable 2019 Current Tax Expense Income Tax Payable 2020 Income Tax Receivable Deferred Tax Benefit (To record benefit from loss carryback) 2020 Income Tax Receivable Deferred Thox Benefit (To record benefit from loss carryback) To record deferred benefit from loss carryforward) 2021 To record current tax expense) (To record deferred benefit from loss carryforward) 2021 (To record current tax expense) (To record deferred tax expense) e Textbook and Media Assuming the tax loss is first carried back and that at the end of 2020, the loss carryforward benefits are judged more likely than not to be realized in the future, prepare the income tax section of the 2020 and 2021 income statements, beginning with the line Income (loss) before income tax" (Enter negative amounts using either a negative sign preceding the number es-45 or parentheses es (451) Bramble Inc. (Partial) Income Statement $ -/1 iii Bramble Inc. (Partial) Income Statement $ e Textbook and Media List of Accounts Prepare the journal entries for 2020 and 2021. Assume that it is more likely than not that one quarter of the carryforward benefits will not be realized. This company does not use a valuation allowance. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit 2020 (To record benefit from loss carryback) (To record future benefit from loss carryforward.) 2021 (To record future benefit from loss carryforward.) 2021 (To record current tax expense.) (To record deferred tax expense.) e Textbook and Media lict of Accounts Assume that it is more likely than not that one quarter of the carryforward benefits will not be realized. This company does not use a valuation allowance. Prepare the income tax section of the 2020 and 2021 income statements, beginning with the line "Income (loss) before income tax" (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses es (451) Bramble Inc. (Partial) Income Statement Bramble Inc. (Partial) Income Statement For the Year Ended December 31, 2021 $ e Textbook and Media
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