18 points Alberta Corp (using FRS Ature tax method) reports the following for 201s Accounting...
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18 points Alberta Corp (using FRS Ature tax method) reports the following for 201s Accounting income 80.000 14.000 11,000 25,000 20,000 Capital Cost Allowance Depreciation expense Rent collected in advance Rent eamed Non-deductible fines Meal expenses, 50% deductible Future tax asset beginning Tax rate 200 2,000 1,000 30% balance Instructions: a) Calculate taxable income and income taxes payable for the yea b) Calculate the future income tax balance at year-end. c) Prepare the journal entries to record income taxes. d) Prepare the income tax section of the income statement starti a)
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