The information that follows pertains to Esther Food Products: At December 31, 2018,...
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Accounting
The information that follows pertains to Esther Food Products:
At December 31, 2018, temporary differences were associated with the following future taxable (deductible) amounts:
Depreciation
$
46,000
Prepaid expenses
19,000
Warranty expenses
(16,000
)
No temporary differences existed at the beginning of 2018.
Pretax accounting income was $65,000 and taxable income was $16,000 for the year ended December 31, 2018.
The tax rate is 40%.
Homework -- Chapter 16.2 More Deferred Taxes an... O Saved Help Save & Exit Submit Check my work Calculation General Journal 8.33 points Complete the following table given below to record income taxes for 2018. (Negative amounts should be entered with a minus sign.) X Tax Rate = Tax $ Recorded as: eBook $ 65,000 Hint Pretax accounting income Permanent differences No permanent differences Income subject to taxation Temporary Differences Ask 65,000 65 x 6 01 Print References Income taxable in current year $ 65,000 x
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