Question: please include work, i would like to understand! thank you :) Bramble Inc. reports the following pretax income (loss) for both financial reporting purposes and

please include work, i would like to understand! thank you :)
please include work, i would like to understand! thank you :) Bramble
Inc. reports the following pretax income (loss) for both financial reporting purposes
and tax purposes. Year Pretax Income (Loss) Tax Rate 2018 17 %
$117.000 114,000 2019 17 % 2020 (228,000) 19% 2021 307.000 19 %
The tax rates listed were all enacted by the beginning of 2018.

Bramble Inc. reports the following pretax income (loss) for both financial reporting purposes and tax purposes. Year Pretax Income (Loss) Tax Rate 2018 17 % $117.000 114,000 2019 17 % 2020 (228,000) 19% 2021 307.000 19 % The tax rates listed were all enacted by the beginning of 2018. Prepare the journal entries for the years 2018-2021 to record income tax expense (benefit) and income taxes payable (refundable) and the tax effects of the loss carryforward, assuming that at the end of 2020 the benefits of the loss carryforward are judged more likely than not to be realized in the future. (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 for the amounts.) Date Account Titles and Explanation Debit Credit 2018 2019 2020 2021 e Textbook and Media Assuming that at the end of 2020 the benefits of the loss carryforward are judged more likely than not to be realized in the future, prepare the income tax section of the 2020 income statement, beginning with the line "Operating loss before income taxes." (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) Bramble Inc. Income Statement (Partial) $ e Textbook and Media List of Accounts Prepare the journal entries for 2020 and 2021, assuming that based on the weight of available evidence, it is more likely than not that one-fourth of the benefits of the loss carryforward will not be realized. (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 for the amounts.) Date Account Titles and Explanation Debit Credit 2020 (To recognize benefit of loss carryforward.) (To record allowance.) 2021 (To record income taxes.) (To adjust allowance.) Assuming that based on the weight of available evidence, it is more likely than not that one-fourth of the benefits of the loss carryforward will not be realized, prepare the income tax section of the 2020 income statement, beginning with the line Operating loss before income taxes." (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Bramble Inc. Income Statement (Partial) $ e Textbook and Media List of Account

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