Multiple Choice
Walters Ltd. has taxable income of $482,000 and pretax accounting income of $566,000. The company's income tax rate is 35%. The entry to record the income tax includes a:
A) credit to Income Tax Payable for $168,700.
B) debit to Income Tax Payable for $168,700.
C) credit to Income Tax Payable for $198,100.
D) credit to Income Tax Expense for $198,100.
Correct Answer:
Verified
Correct Answer:
Verified
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