Hunter’s unadjusted trial balance dated December 31, 2015, reports Income TaxesExpense of $70,000, and Income Taxes Payable of $20,000. The company’s accountantestimates that income taxes expense for the entire yearended December 31, 2015, is$85,000.a. Prepare the necessary adjusting entry for income taxes expense on December 31,2015.b. Determine the amount of income taxes payable reported in the balance sheet datedDecember 31, 2015.
Hunter’s unadjusted trial balance dated December 31, 2015, reports Income TaxesExpense of $70,000, and Income Taxes Payable of $20,000. The company’s accountantestimates that income taxes expense for the entire yearended December 31, 2015, is$85,000.a. Prepare the necessary adjusting entry for income taxes expense on December 31,2015.b. Determine the amount of income taxes payable reported in the balance sheet datedDecember 31, 2015.
Hunter’s unadjusted trial balance dated December 31, 2015, reports Income TaxesExpense of $70,000, and Income Taxes Payable of $20,000. The company’s accountantestimates that income taxes expense for the entire yearended December 31, 2015, is$85,000.a. Prepare the necessary adjusting entry for income taxes expense on December 31,2015.b. Determine the amount of income taxes payable reported in the balance sheet datedDecember 31, 2015.
Hunter’s unadjusted trial balance dated December 31, 2015, reports Income TaxesExpense of $70,000, and Income Taxes Payable of $20,000. The company’s accountantestimates that income taxes expense for the entire yearended December 31, 2015, is$85,000.a. Prepare the necessary adjusting entry for income taxes expense on December 31,2015.b. Determine the amount of income taxes payable reported in the balance sheet datedDecember 31, 2015.
