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Difference will reverse and cause deductible

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AAA Corporation has one temporary difference at the end of the of 2014. The difference will reverse and cause deductible amounts of $10,000 in 2015 and $20,000 in 2016. AAA 's pretax financial income (FI) for 2014 is $300,000 and AAA's pretax financial income (FI) for 2015 is $200,000. The tax rate is 30% for all years.

A. Prepare the AAA's journal entry to accounting for income tax for 2014.

B. Prepare the AAA's journal entry to accounting for income tax for 2015.

Reference no: EM132465982

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