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Prepare the journal entry to record income tax expense, deferre fincome taxes, and income taxes...

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Accounting

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Prepare the journal entry to record income tax expense, deferre fincome taxes, and income taxes payable for 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Prepare the income tax expense section of the income statement for 2025 beginning with the line "Income before income taxes." (Enter negative amounts using either a negative sign preceding the number e. -45 or parentheses eg. (45).) Bandung Corporation began 2025 with a $46,000 balance in the Deferred Tax Liability account. At the end of 2025 , the related cumulative temporary difference amounts to $350,000, and it will reverse evenly over the next 2 years. Pretax accounting income for 2025 is $525,000, the tax rate for all years is 20%, and taxable income for 2025 is $405,000. Your answer is correct. Compute income texes payable for 2025. Income taxes payable

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