Larkspur SA began operations in 2022 and reported pretax financial income of 234,000 for the...
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Accounting
Larkspur SA began operations in 2022 and reported pretax financial income of 234,000 for the year. Larkspurs tax depreciation exceeded its book depreciation by 36,000. Larkspurs tax rate for 2022 and years thereafter is 30%. Assume this is the only difference between Larkspurs pretax financial income and taxable income. Prepare the journal entry to record the income tax expense, deferred income taxes, and income taxes payable.
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