In January 2005 the accountant for Delaware supply Corporation estimated the company's net income for the year as 556,000. A year-end income statement reported actual net income of 570,000.
1. make the general journal entries to record quarerly payments of the company's estimated income taxes (April 15, June !5, September 15, And December 15).
2. make an adjusting entry forany additional income taxes owed by the company at year-end.
Taxable Income 15%
$0-%50,000 25
50,001- 75,000 34
75,001- 335,000 39
Over- 335,000 34
