Explanation:
The journal entry is as follows:
1. Deferred tax assets A/c Dr
To Income tax benefit - Operating loss A/c
(Being the income tax benefit is recorded)
The computation is shown below:
= Net operating loss × enacted tax rate
= $388,000 × 25%
= $97,000
2. Now the lower portion of the 2021 income statement is presented below:
Net operating loss before income tax $388,000
Less: Income tax benefit - Operating loss -$97,000
Net loss $291,000
A. is required to draw up a petition listing all assets and liabilities.
Answer:
The explanation is given in the file attached
Explanation:
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Answer:
Explanation: 2,3,4,5 I just did it
The Sandwhich technique is a strategy used when giving constructive feedback.