Business
Business, 08.04.2021 19:30, esperanzar3034

The pretax financial income (or loss) figures for Marin Company are as follows. 2017 76,000 2018 (48,000 ) 2019 (43,000 ) 2020 116,000 2021 104,000 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2017 and a 20% tax rate for the remaining years. Prepare the journal entries for the years 2017 to 2021 to record income tax expense and the effects of the net operating loss carryforwards. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.

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The pretax financial income (or loss) figures for Marin Company are as follows. 2017 76,000 2018 (48...

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