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    Tax Expense Adjusting Entry

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    Co. made & recorded its quarterly income tax payments. After final review Co. ID's an additional $40,000 in income expense that should be recorded. A portion of this additional expense, $6,000, is deferrable to future years.

    What is the year-end tax expense adjusting entry?

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    Solution Summary

    This solution looks at the year-end income tax expense adjusting entry.