Toner Corporation reported the following taxable income and loss: 2020 taxable income, $14,000 and 2021 taxable loss, $56,000. At the end of 2021, Toner made the following estimates: 2022 taxable income, $5,600, 2023 taxable income, $15,400, and 2024 taxable income, $70,000. On the basis of these estimates, Toner believes the full amount of tax loss carryforward benefit is more likely than not to be realized. There are no other temporary differences. The tax rates are 25% for years 2020, 2021, and 2022; and 30% for year 2023 and 2024. Required
a. Provide the income tax entry for 2021. Date Account Name Dr. Cr. Dec 31, 2021 Deferred Tax Asset 0 Income Tax Expense * O *
b. Provide the income tax entry for 2022, assuming that the actual taxable income was $8,400 (tax rate, 25%). • Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Dr. Date Account Name Dec 31, 2022 Income Tax Expense Deferred Tax Asset Income Tax Payable 0 0
c. Provide the income tax entry for 2023, assuming that 2022 results were as described in (b), and that the actual 2023 taxable income was $18,200 • Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Dr. Cr. 5,460 07 Date Account Name Dec 31, 2023 Income Tax Expense Deferred Tax Asset Income Tax Payable 0
d. Provide the entry for 2024, assuming results for 2022 and 2023 as described above and assuming that the actual 2024 taxable income was $63,000.
• Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Dr. Cr. $ 0 Date Account Name Dec 31, 2024 Income Tax Expense Deferred Tax Asset Income Tax Payable 18,900

1. revising for conciseness - eliminating flabby expressions,limiting long lead-ins, and dropping unnecessary fillerstime is money in any business environment. people want information communicated quickly and clearly. to make your writing more concise and understandable, avoid flabby expressions, long lead-ins, and unnecessary fillers. your audience will appreciate your brevity.1. if your writing contains a flabby expression like in view of the fact that, replace it with the word because / although / probably .for each of the following two sentences, choose the best revision.2. i am sending you this letter to inform you that we have experienced an unexpected surprise within our expense sheet, but we are positively certain we will solve it.1) we need to inform you that we have experienced an unexpected surprise with our expense sheet, but we are midway to an end result.2) we have identified a problem with our expense sheet, but we will solve it.3) i am sending you this letter to inform you that we have a problem with our expense sheet, but we are positively certain we have a solution.3. it is the user who should contact the center.1) everyone knows that it is the user who should contact the center.2) the user should contact the center.3) if there is a problem, the user should contact the center.read the following passage, and then answer the question.[1] you scheduled seven conference calls for this morning between 10 and 11 a.m. [2] generally, the company limits the number of conference calls to three per hour. [3] i’m letting you know that in the future, we should be more careful about scheduling.4. which revision limits the long lead-in in sentence 3? 1) in the future, we should be more careful about scheduling.2) i’m letting you know so that in the future we are more careful about scheduling calls.3) so that you know in the future, we should be more careful about scheduling.