Nbspa portion of this additional expense 6000 is deferred


Sera Corporation has made and recorded its quarterly income tax payments. After a final review of taxes for the year, the company identifies an additional $ 40,000 of income tax expense that should be recorded. A portion of this additional expense, $ 6,000, is deferred for payment in future years. Record Sera's year end adjusting entry for income tax expense. 

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Nbspa portion of this additional expense 6000 is deferred
Reference No:- TGS01197273

Now Priced at $12 (50% Discount)

Recommended (91%)

Rated (4.3/5)