Year Taxable Income Tax Rate 2018 20,000 30% 2019 (150,000) 30% 2020 90,000 25% 2021...
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Year Taxable Income Tax Rate 2018 20,000 30% 2019 (150,000) 30% 2020 90,000 25% 2021 15,000 25% Assume that at the end of 2021, management determined that it is more likely than not that only two thirds of the DTA related to the NOL will be realized. Required: 1. Prepare the tax journal entries for 2019-2021. 2. What is the net DTA at the end of 2021?
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