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Brief Exercise 105 The records for Bosch Co. show this data for 2018: ...

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Accounting

Brief Exercise 105

The records for Bosch Co. show this data for 2018:

Pretax financial income is $740,000. The tax rate is 30%.

PART 1:

Schedule of Pretax Financial Income and Taxable Income for 2018

Pretax Financial Income $

Permanent Differences

Life Insurance $

Tax exempt Interest $

Tempory Differences

Installment Sales $

Extra Depreciation $

Warranties $

Taxable Income $

PART 2:

Prepare the Jounal entry to record taxes for 2018

Income Tax Expense

Deferred tax asset

Deferred tax liability

Income tax payable

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