Kagel Corporation computed its actual income taxes payable for 2010 to be $92,000. Because of differences in accounting procedures and income tax rules, the income taxes expense to be reported for 2010 is $107,000. Prepare the entry in journal form without explanation to record the income taxes expense and income taxes payable for 2010.

Question

Kagel Corporation computed its actual income taxes payable for 2010 to be $92,000. Because of differences in accounting procedures and income tax rules, the income taxes expense to be reported for 2010 is $107,000. Prepare the entry in journal form without explanation to record the income taxes expense and income taxes payable for 2010.
Kagel Corporation computed its actual income taxes payable for 2010 to be $92,000. Because of differences in accounting procedures and income tax rules, the income taxes expense to be reported for 2010 is $107,000. Prepare the entry in journal form without explanation to record the income taxes expense and income taxes payable for 2010.

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The Answer of Kagel Corporation computed its actual income taxes payable for 2010 to be $92,000. Because of differences in accounting procedures and income tax rules, the income taxes expense to be reported for 2010 is $107,000. Prepare the entry in journal form without explanation to record the income taxes expense and income taxes payable for 2010.

Kagel Corporation Computed Its Actual Income Taxes Payable for 2010