Western Corporation Has Taxable Income of $420,000 and Pretax Accounting

question 40

Multiple Choice

Western Corporation has taxable income of $420,000 and pretax accounting income of $200,000. The company's income tax rate is 20%. The journal entry to record the income tax includes a:

• A)debit to Income Tax Expense $84,000.
• B)credit to Deferred Tax Asset $44,000.
• C)debit to Deferred Tax Asset $44,000.
• D)credit to Income Tax Payable $40,000.

---

Definitions:

Slave Revolts

Armed uprisings by enslaved people seeking freedom and the abolition of slavery.

South Carolinians

Residents of South Carolina, a southeastern U.S. state known for its shorelines, historical significance, and cultural heritage.

Positive Changes

Transformations or modifications that result in beneficial outcomes or improvements over the previous state.

War Of Jenkins' Ear

A conflict between Britain and Spain lasting from 1739 to 1748, sparked by an incident in which a Spanish officer allegedly cut off the ear of British seaman Robert Jenkins.