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SWFT Corp Partner Estates Trusts

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter14: Taxes On The Financial Statements

Section: Chapter Questions

Problem 51P

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A company reports pretax accounting income
of $8,320,000, but because of a single
temporary difference, taxable income is only
$6,660,000. No temporary differences existed
at the beginning of the year, and the tax rate
is 19%.
Required:
Prepare the appropriate journal entry to
record income taxes.

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