The information that follows pertains to Esther Food Products:a. At December 31, 2011, temporary differences were associated with the following future taxable (deductible) amounts:Depreciation …… $60,000Prepaid expenses …… 17,000Warranty expenses …. (12,000)b. No temporary differences existed at the beginning of 2011.c. Pretax accounting income was $80,000 and taxable income was $15,000 for the year ended December 31, 2011.d. The tax rate is 40%.Required:Determine the amounts necessary to record income taxes for 2011 and prepare the appropriate journal entry.View Solution:
The information that follows pertains to Esther Food Products a



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