Benata Ltd. started operations in 20X5 and purchased buildings and equipment with an original cost of $400,000. Benata r

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Benata Ltd. started operations in 20X5 and purchased buildings
and equipment with an original cost of $400,000. Benata reported
the following information:
Required:
Prepare the journal entries for income taxes for each of the
four years. Assume that the company is concerned that it might have
another significant loss in 20X9.
Prepare the journal entries for income taxes for each of the
four years, assuming that the company wants to maximize the amount
it can recover from the tax carryback, it sees the loss in 20X8 as
an isolated incident, and it anticipates large profits in the next
few years.
Repeat requirements 1 and 2, assuming that the taxable loss in
20X8 was $950,000.