Range Rover inc. had tavable income of $152,000 for the year The GAAP basis of accounts receivable ned is 9,600 less than the tex basis of accounts receivable. Assuming a tax rate of 25% record the income tax journal entry on December 31. Assume zero beginning balances in deferred tax accounts Note: if a line in a journal entry nint required for the transaction, select N/A as the account names and leave the Dr. and Cr. answers blank (zero) Date Account Name Dec 31 income Tax Esperne come Tax Payathe Deferred Tax Asse Turecont come
Range Rover inc. had tavable income of $152,000 for the year The GAAP basis of accounts receivable ned is 9,600 less than the tex basis of accounts receivable. Assuming a tax rate of 25% record the income tax journal entry on December 31. Assume zero beginning balances in deferred tax accounts Note: if a line in a journal entry nint required for the transaction, select N/A as the account names and leave the Dr. and Cr. answers blank (zero) Date Account Name Dec 31 income Tax Esperne come Tax Payathe Deferred Tax Asse Turecont come
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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