Prepare conlins entry to record the effect of the loss


1. Conlin Corporation had the following tax information. In 2011 Conlin suffered a net operating loss of $480,000, which it elected to carry back. The 2011 enacted tax rate is 29%. Prepare Conlin's entry to record the effect of the loss carry back. 

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Accounting Basics: Prepare conlins entry to record the effect of the loss
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