What is the correct manual journal entry to record

Reference no: EM133542295

Question: On 1 July 2021 ABC Accquired XYZ. At June 30 2022, Neither ABC nor XYZ had recorded income tax payable for the current year. The income tax payable for the year ended 30 June 2022 is $122,000 for ABC and $21,900 for XYZ. Goodwill and other assets have not been impaired during the year. Tax rate is 30%

What is the correct Manual Journal entry to record the income tax payable, the narration: Income tax owing for the year ended 30 June 2022.

Reference no: EM133542295

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