The following accounts given are... Current Asset, Current Liability, Deferred income tax Asset,, Deferred income tax liability, Income Tax expense, Income tax payable.

Need help with each following year

Landmark Corp. started operations in 20X6. The statements of comprehensive income for the first four years of operations reflected the following pre-tax amounts: 20x4 20x5 20X6 20x7 $118,000 $(285,000) $29,000 $49,000 Pre-tax earnings (loss) There are no temporary differences other than those created by income tax losses. Landmark has had a constant income tax rate of 35% for all four years. Required: 1. Give the entries to record income tax expense for each year, assuming that management has assessed that use of the loss carryforwards is probable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Give the entries to record income tax expense for each year, assuming that management has assessed that use of the loss carryforwards is not probable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet