In: Accounting
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Determine the deferred income taxes at the end of 2021. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Prepare the journal entry to record income taxes for 2021. |
Prepare a schedule of future taxable and (deductible) amounts at the end of 2022.
Prepare a schedule of the deferred tax (asset) and liability at the end of 2022.
Compute the net deferred tax expense (benefit) for 2022.
Prepare the journal entry to record income taxes for 2022.