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Journal entry to record income tax

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Reference no: EM132893195

Question - Garl Inc. provided you with the following information:

Year 2013 -

Accounting Income $1,500,000

Tax Rate 35%

Warranty Expense $100,000

Warranty paid $0

Year 2014 -

Accounting Income $900,000

Tax Rate 40% (not enacted until 2014)

Warranty Expense $0

Warranty Paid $0

Required - Journal entry to Record Income tax for 2013 and 2014.

Reference no: EM132893195

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