Juornalize the entries to record the follwing selected

Reference no: EM13606127

Juornalize the entries to record the follwing selected transactions of Supernatural Grave Markers Inc.April 15. Paid the first installment of the estimated income tax for the current fiscal year ending December 31, $80,000. No entry had been mad to record the liability.

June 15. Paid the second installment of $80,000.

Sept 15. Paid the third installment of $80,000

Dec. 31 Recorded the estimated income tax liability for the year just ended and deferred income tax liabitiy, based on the transactions above and the following data:

Income tax rate................................40%

Income before income tax............$1,200,000

taxable income according to tax return..$850,000

Jan. 15 Paid the forth installment of $100,000

Reference no: EM13606127

Questions Cloud

Two sinusoidal waves traveling in opposite directions : two sinusoidal waves traveling in opposite directions interfere to produce a standing wave with the following wave

On august 31 2010 a company purchased 10000 shares of stock : on august 31 2010 a company purchased 10000 shares of stock for 30 per share. management recorded the stock in the

Describe the schedule of cost of goods manufactured how : describe the schedule of cost of goods manufactured. how does it tie into the income statement? explain. give examples

The lansing community college registrars office is : the lansing community college registrars office is considering replacing some canon copiers with faster copiers

Juornalize the entries to record the follwing selected : juornalize the entries to record the follwing selected transactions of supernatural grave markers inc.april 15. paid

Two sinusoidal waves traveling in opposite directions : two sinusoidal waves traveling in opposite directions interfere to produce a standing wave with the following wave

On july 1 2011 atwater corporation issued 2000000 face : on july 1 2011 atwater corporation issued 2000000 face value 10 10-year bonds at 2271813.this price resulted in an

Assume that in recent years both expected inflation and the : assume that in recent years both expected inflation and the market risk premium rm ? rrf have declined. assume also

Paul woonan a self employed accountant is married and : paul woonan a self employed accountant is married and enrolls in a non-group health insurance plan. the plan costs 7710

User Account

All Pages