One of my adjusting entries is:
Income taxes must be recorded at 30% of income before income tax
I only have a trial balance... I don't know where to even start?
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One of my adjusting entries is:
Income taxes must be recorded at 30% of income before income tax
I only have a trial balance... I don't know where to even start?
Start by figuring out which accounts belong on your Income Statement versus your Balance Sheet. Once you have your income and expense items you can determine your net income.
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