The information that follows pertains to Julia Company: ( a ) Temporary differences for the year 2
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Question:
The information that follows pertains to Julia Company:
a Temporary differences for the year are summarized below.
Expenses deducted in the tax return, but not included in the income statement:
Depreciation $
Prepaid expense
Expenses reported in the income statement, but not deducted in the tax return:
Warranty expense $
b No temporary differences existed at the beginning of
c Pretax accounting income was $ and taxable income was $ for
d There were no permanent differences.
e The tax rate is
Required:
Prepare the journal entry to record the tax provision for
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Posted Date: