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need help with A DEFERRED TAXES PROBLEM A Anderson Nails Inc....

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Accounting

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DEFERRED TAXES PROBLEM A Anderson Nails Inc. has no temporary tax differences. Thev do have an NOL in 2017. All tax rates shown are all enacted into law as of 2013. The tax law is such that NOL's can be carried forward indefinitely. In any given carryforward year, though, only 80% of income can have an NOL carryforward offsetting it. In recording the benefits of the NOL carryforward, assume it is more likely than not that the related benefits will be realized. REQUIRED: a. Assume that the profitloss numbers for years 2018 and after, as shown above, are forecasts. What entry for income taxes should be done in 2017

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