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Prepare conlin entry to record effect of the loss carryback

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Reference no: EM131592397

Question: Conlin Corporation had the following tax information.

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In 2015, Conlin suffered a net operating loss of $480,000, which it elected to carry back. The 2015 enacted tax rate is 29%. Prepare Conlin's entry to record the effect of the loss carryback.

Reference no: EM131592397

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