Bramble Inc. reports the following pretax income (loss) for both
book and tax purposes.
Year
Pretax
Income (Loss)
Tax Rate
2018
$117,000
20
%
2019
90,000
20
%
2020
(257,000)
25
%
2021
123,000
25
%
Prepare the journal entries for years 2018–2021 to record income
tax expense (benefit) and income taxes payable (refundable), and
the tax effects of the loss carry forward, assuming that based on
the weight of available evidence, it is more likely than not that
one-half...