Farnworth Corp. pays income tax at an average rate of 30 percent. This year its...
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Accounting
Farnworth Corp. pays income tax at an average rate of 30 percent. This year its revenue is $100,000 and its expenses are $70,000. The adjusting entry to record the income tax expense will:
rev: 10_09_2015_CS-28471
increase stockholders' equity by $9,000.
decrease net income by $30,000.
decrease stockholders' equity by $9,000.
decrease liabilities by $9,000.
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