Use the following information to create journal entries for Sherman Entity for each year:
$$\begin{array} { | l | l | l | l | }
\hline & 20 \mathrm { X } 1 & 20 \mathrm { X } 2 & 20 \mathrm { X } 3 \
\hline \begin{array} { l }
\text { Pretax Accounting Profit } \
\text { (excluding depreciation) }
\end{array} & 2,000 & 2,000 & 3,000 \
\hline \text { Accounting Depreciation } & 350 & 350 & 400 \
\hline \text { Tax Depreciation } & 550 & 450 & 350 \
\hline
\end{array}$$

Question

Use the following information to create journal entries for Sherman Entity for each year:
 $$\begin{array} { | l | l | l | l | } 
\hline & 20 \mathrm { X } 1 & 20 \mathrm { X } 2 & 20 \mathrm { X } 3 \
\hline \begin{array} { l } 
\text { Pretax Accounting Profit } \
\text { (excluding depreciation) }
\end{array} & 2,000 & 2,000 & 3,000 \
\hline \text { Accounting Depreciation } & 350 & 350 & 400 \
\hline \text { Tax Depreciation } & 550 & 450 & 350 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Use the following information to create journal entries for Sherman Entity for each year:
 $$\begin{array} { | l | l | l | l | } 
\hline & 20 \mathrm { X } 1 & 20 \mathrm { X } 2 & 20 \mathrm { X } 3 \
\hline \begin{array} { l } 
\text { Pretax Accounting Profit } \
\text { (excluding depreciation) }
\end{array} & 2,000 & 2,000 & 3,000 \
\hline \text { Accounting Depreciation } & 350 & 350 & 400 \
\hline \text { Tax Depreciation } & 550 & 450 & 350 \
\hline
\end{array}$$

Use the Following Information to Create Journal Entries for Sherman