Please answer all parts! And show ALL work please! 17a. On January 1, 2018,...
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Please answer all parts! And show ALL work please!
17a. On January 1, 2018, JKL Corp purchases a new machine for $200,000. The machine has a 10 year useful life and a $0 salvage value. JKL uses straight line depreciation for financial reporting purposes, and uscs double declining balance for tax purposes. JKL's revenues for the y car are $500,000. And has no cxpenses except depreciation expense. Its income tax rate is 30%. Show the journal entry for income taxes made on December 31, 2018. 176. On January 15 of 2019, JKL pays taxes due from the 2018 year. Show the journal entry.
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