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Answer:
Pablo Picasso was one of the greatest artists of the 20th century, famous for paintings like 'Guernica' and for the art movement known as Cubism.
Summary of Pablo Picasso
Pablo Picasso was the most dominant and influential artist of the first half of the 20th century. Associated most of all with pioneering Cubism, alongside Georges Braque, he also invented collage and made major contributions to Symbolism and Surrealism.
Explanation:
The journal entry to recognize Baginski’s 2025 tax expense includes a Debit to Income tax expense and Credit to Income tax payable.
<h3>What is a tax expense or benefit?</h3>
The tax expense refers to the total amount of taxes owed by an individual, corporation or other entity to a taxing authority while the tax benefit refers to the refers to any tax law that helps one reduce tax liability.
In accounting, the companies record an income tax expense as a debit and income tax payable as a credit in journal entries.
<h3>Journal entry to recognize Baginski’s 2025 tax expense or tax benefit.</h3>
Date General Journal Debit Credit
Income tax expense $62,500
($250,000 * 25%)
Income tax payable $62,500
(To record the tax expense for 2025)
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