Prepare a net operating loss schedule

Reference no: EM13678897

a) Prepare a net operating loss schedule

b) Prepare the journal entries for the years 2013-2015 to record income tax expense, income tax payable (refundable), and the tax effects of the loss carryback and loss carryforward. Record an allowance assuming that based on the weight of available evidence, it is more likely than not that one-fifth of the benefits of the loss carryforward will not be realized.

c) Prepare the income tax section of the 2014 income statement beginning with the line "Income (loss) before income taxes

Reference no: EM13678897

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