The following information is related to the defined benefit pension plan of Xavier Company for 2012:
Required:
a.Using the information provided for Global,prepare the company's journal entry to record income taxes for 2012 and 2011.
b.Using the information provided for Global,determine the company's effective tax rate for 2012 and 2011.
Definitions:
Personal Goals
Individual objectives or ambitions that a person aims to achieve.
Group Goals
Objectives or targets collectively set by a group to be achieved through collaborative effort.
Conformity
The act of adjusting one's behavior or thinking to match those of other people or to fit into societal norms.
Group Judgment
The collective decision-making process or opinion-forming within a group, which may be influenced by group dynamics, conformity, and persuasion techniques.
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