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TAXABLE INCOME
YEAR OR LOSS TAX RATE TAXES PAID
1999 $160,000 45% $72,000
2000 $250,000 45% $112,500
2001 $80,000 40% $32,000
2002 $(160,000) 40% $(64,000)
2003 $(380,000) 40% $(152,000)
2004 $120,000 40% $48,000
2005 $100,000 40% $40,000
what are my journal entrie for years 2001 thru 2005 using the carryback method assuming no valuation account deemed necessary
Linear Mode
