The following information pertains to Julia Company: A. Temporary differences fo

ID: 2377054 • Letter: T

Question

The following information pertains to Julia Company:

A. Temporary differences for the year 2013 are summarized below:

Expenses deducted in the tax return, but not included in the income statement:

Expenses reported in the income statement but not deducted in the tax return: Warranty expense, 9,000

B. No temporary differences existed at the beginning of 2013

C. Pretax accounting income was $67,000 and taxable income was $8,000 for 2013

D. There were no permanent differences

E. The tax rate is 30%

Required:

Prepare the journal entry to record the tax provision for 2013. Provide supporting computations

tax = .3*8000 = 2400$

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