The pretax financial income of Orioletcompany differs from its taxable income throughout each of 4...
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Accounting
The pretax financial income of Orioletcompany differs from its taxable income throughout each of 4 years as follows. Pretax financial income for each year includes a nondeductible expense of $28,400 (never deductible for tax purposes). The remainder of the difference between pretax financial income and taxable income in each period is due to one depreciation temporary difference. No deferred income taxes existed at the beginning of 2025. Prepare journal entries to record income taxes in all 4 years. Assume that the change in the tax rate to 20% was not enacted until the beginning of 2026. (List all debit entries before credit entries. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Record journal entries in the order presented in the problem.) (To record income taxes for 2026.) 2027 2028 eTextbook and Media
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