Exercise 19-23 (Part Level Submission) Wildhorse Inc. reports the following pretax income (loss) for both...
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Exercise 19-23 (Part Level Submission) Wildhorse Inc. reports the following pretax income (loss) for both financial reporting purposes and tax purposes. (Assume the carryback provision is us Pretax Income Loss) Year 2015 2016 2017 2018 Tax Rate 34 % 34% 38% 38% 115,000 87,000 (279,000) 208,000 The tax rates listed were all enacted by the beginning of 2015. (c) Prepare tpe journal entries for'2017 and 2018, assuming that based on the weight of available evidence, it is more likely than not that nt tities are automatically indented when amount is entered. Do not indent manually, If no entry is require account titles and enter O for the amounts.) Debit Credit Date Account Titles and Explanation
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