Title: Violet Corporation reported a loss in 2015 of $650,000. The company reported taxable income of ... Post by: Ace_AZ on Jul 23, 2018 Violet Corporation reported a loss in 2015 of $650,000. The company reported taxable income of $195,000 in 2013 and $245,000 in 2014. It has no permanent or temporary differences and its tax rate is 20%.
Refer to Violet Corporation. Violet reported taxable income of $345,000 in 2016. What is the necessary journal entry for 2016? A) Income Tax Refund Receivable88,000 Deferred Tax Asset42,000 Income Tax Benefit130,000 B) Income Tax Refund Receivable27,000 Deferred Tax Asset42,000 Income Tax Benefit69,000 C) Income Tax Expense130,000 Income Tax Payable88,000 Deferred Tax Asset42,000 D) Income Tax Expense69,000 Income Tax Payable27,000 Deferred Tax Asset42,000 Title: Violet Corporation reported a loss in 2015 of $650,000. The company reported taxable income of ... Post by: jmarc on Jul 23, 2018 Content hidden
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