At year end on August 31, 2020, Clutch Home Decor Inc. has accounting income (before income tax expense calculation) of $237,000. Write the journal entry to record the income tax expense in 2020, which will be paid in 2021. Assume the tax rate is 35% and that the income tax amount calculated under ASPE is the same as the amount calculated under tax laws. Do not enter dollar signs or commas in the input boxes. Date Account Title and Explanation Debit Credit Aug 31 To record the income tax expense for the year

At year end on August 31, 2020, Clutch Home Decor Inc. has accounting income (before income tax expense calculation) of $237,000. Write the journal entry to record the income tax expense in 2020, which will be paid in 2021. Assume the tax rate is 35% and that the income tax amount calculated under ASPE is the same as the amount calculated under tax laws. Do not enter dollar signs or commas in the input boxes. Date Account Title and Explanation Debit Credit Aug 31 To record the income tax expense for the year

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 22CE

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