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Prepare the relevant tax-effect journal entries

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Reference no: EM132989345

Question - Corporate accounting Seattle Ltd has the following results relating to tax effect accounting:

1) 30 June 2018 tax loss of $12,000

2) 30 June 2019 taxable income of $20,000

3) 30 June 2020 taxable income of $12,000

Required - Prepare the relevant tax-effect journal entries at the end of 30 June 2018, 2019, and 2020. The tax rate is 30%.

Reference no: EM132989345

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