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Prepare the journal entry for the following transaction Apr. 15 Last year, Titan Corporation's board of directors appropriated $150,000 for the purchase of a new storage facility over a three-year period. This year's appropriation for $50,000 was made on this date, If an amount box does not require an entry, leave it blank Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Apr. 15 2 2 Matrix Corporation estimated at the beginning of 20 -- that its income tax for the year would be $140,000 1. Calculate the estimated Income tax payment per quarter and show one of the quarterly entries to pay the taxes. If an amount box does not require an entry, leave it blank. Page: 1 POST DESCRIPTION REF. DATE DEBIT CREDIT 1 Apr. 15 1 2 2 2. As of December 31, 20., Matrix Corporation had an actual tax liability of $143,200. Calculate the income tax due and make the necessary adjusting entry. If an amount box does not require an entry, leave it blank. Page: 1 POST DATE DESCRIPTION REF. DEBIT CREDIT 1 Dec 31 1 2 2. Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the terms with the definitions. Clear All An exchange of one share of an old issue of stock for multiple shares of a new issue with a reduced par or stated value. date of record The date on which the board of directors declares that a dividend is to be paid. date of declaration stock split The date on which the dividend is actually paid by the corporation The date on which the names of stockholders entitled to receive the dividend are determined. date of payment

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