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The income tax rate is 40 for all years prepare the journal

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Reference no: EM13570411

ABC Company had the following net operating income or losses over a 5-year period:

2010: 25,000

2011: 30,000

2012: (50,000)

2013: (30,000)

2014: 40,000

The income tax rate is 40% for all years

Prepare the journal entries for income taxes for the years 2012-2014. Please show work.

Reference no: EM13570411

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