Problem: Culver Company has the following two temporary differences between its income tax expense and income taxes payable.
|
|
2017
|
2018
|
2019
|
|
Pretax financial income
|
$849,000
|
$883,000
|
$961,000
|
|
Excess depreciation expense on tax return
|
-30,800
|
-38,900
|
-10,300
|
|
Excess warranty expense in financial income
|
21,000
|
9,600
|
8,000
|
|
Taxable income
|
$839,200
|
$853,700
|
$958,700
|
The income tax rate for all years is 40%.
Required: Assuming there were no temporary differences prior to 2017, make the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019.
Need A Reliable Income Taxes Payable Assignment Help Service At Budget-Friendly Prices? Hire Skilled Tutors And Get Remarkable Grades..!!
Tags: Income Taxes Payable Assignment Help, Income Taxes Payable Homework Help, Income Taxes Payable Coursework, Income Taxes Payable Solved Assignments, Deferred Income Taxes Assignment Help, Deferred Income Taxes Homework Help, Income Tax Expense Assignment Help, Income Tax Expense Homework Help