Flint Company Has The Following Two Temporary Differences Between Its Income Tax Expense And Income Taxes Payable Preta 1 (42.33 KiB) Viewed 33 times
Flint Company Has The Following Two Temporary Differences Between Its Income Tax Expense And Income Taxes Payable Preta 2 (32.98 KiB) Viewed 33 times
Flint Company Has The Following Two Temporary Differences Between Its Income Tax Expense And Income Taxes Payable Preta 3 (18.18 KiB) Viewed 33 times
Flint Company Has The Following Two Temporary Differences Between Its Income Tax Expense And Income Taxes Payable Preta 4 (20.82 KiB) Viewed 33 times
Flint Company Has The Following Two Temporary Differences Between Its Income Tax Expense And Income Taxes Payable Preta 5 (29.28 KiB) Viewed 33 times
Flint Company has the following two temporary differences between its income tax expense and income taxes payable. Pretax financial income Excess depreciation expense on tax return Excess warranty expense in financial income Taxable income The income tax rate for all years is 20%. 2020 $864,000 (30,800 ) 20,900 $854,100 2021 $949,000 (41,000) 10.500 $918,500 2022 $920,000 (9,600) 8,300 $918,700 Assuming there were no temporary differences prior to 2020, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020, 2021, and 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
2020 2021
2022
Indicate how deferred taxes will be reported on the 2022 balance sheet. Flint's product warranty is for 12 months. Flint Company Balance Sheet (Partial)
Prepare the income tax expense section of the income statement for 2022, beginning with the line "Pretax financial income." (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) Flint Company Income Statement (Partial) < s
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