Assume that B.Co.begins operations in 2001 and is profitable through 2003.In 2004 the company reports a pretax financial loss of $8,000 and a taxable loss of $8,000.In 2005 and 2006,the company is again profitable,although at the end of 2004 the company felt that future profits were not likely.The income tax rate is 30%.The company's pretax financial income(loss).taxable income(loss). and income taxes payable(receivable) for years 2001 through 2006 as following page. Pretax financial Depreciation Taxable Icome Taxes Year income(loss) Differeence income(loss) payable(receivable) 2001 $2,000 $800 $1,200 $360 2002-2003 5,000 2,200 2,800 840 2004 (8,000) 800 (8,800) (840) 2005 2,200 700 1,500 0 2006 7,000 600 6,400 570 It is assumed that the only difference between pretax financial income (loss) and taxable income (loss) in any year results from additional (MACRS) depreciation reported for income tax purposes. REQUIRED: Prepare the income tax journal entry of the B. Co. for 2004. 2001 2002&2003 2004 2005 2006 taxable income 1,200 2,800 (8,800) 1,500 6,400 loss carrybacks (2,800)<- 2,800 loss carryfowards (to 2005) 1,500->(1,500) loss carryforwards (to 2006) 4,500--------> (4,500) ─── ─── ─── $0 $0 $0 Valuation allowance=[(1,500+4,500)-(800+2,200+800)]*30%=660 Deferred tax liability adjustment=(800+2,200+800)*30%-(800+2,200)*30%=240 Deferred tax asset adjustment (loss carryforward)=(1,500+4,500)*30%=1,800 2004 Income Tax Refund Receivable 840 Deferred Tax Asset 1800 Deferred Tax liability 240 Income Tax Benefit from Operating Loss Carryback 840 Income Tax Benefit from Operating Loss Carryforward 900 Allowance to Reduce Deferred Tax Asset to Realizable 660 Value 關於這題..從備抵評價那邊就看不太懂了..有請懂得人教教我吧~~~ 拜託了感恩!!! --

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