Deferred income taxes Hunt Co. at the end of 2018, its first year of...
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Accounting
Deferred income taxes Hunt Co at the end of its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: Estimated warranty expense of $ will be deductible in $ in and $ in The use of the depreciable assets will result in taxable amounts of $ in each of the next three years. Instructions a Prepare a table of future taxable and deductible amounts. b Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for assuming an income tax rate of for all years. 
Deferred income taxes
Hunt Co at the end of its first year of operations, prepared a reconciliation between pretax
financial income and taxable income as follows:
Estimated warranty expense of $ will be deductible in $ in and
$ in The use of the depreciable assets will result in taxable amounts of $ in
each of the next three years.
Instructions
a Prepare a table of future taxable and deductible amounts.
b Prepare the journal entry to record income tax expense, deferred income taxes, and income
taxes payable for assuming an income tax rate of for all years.
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