The information that follows pertains to Richards Refrigeration, Incorporated:
a At December temporary differences existed between the financial statement book values and the tax bases of the following:
table$ in millionsFuture TaxableDeductibleAmount
b No temporary differences existed at the beginning of
c Pretax accounting income was $ million and taxable income was $ million for the year ended December The tax rate is
Required:
Complete the following table given below and prepare the appropriate journal entry to record income taxes for
What is the net income?
Complete this question by entering your answers in the tabs below.
Required
General
Journal
Required
Complete the following table given below to record income taxes for
Note: Enter your answers in millions rounded to decimal places ie should be entered as Amounts to be deducted should be entered with a minus sign.
