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The Following Information Is for Hulk Gyms' First Year of Operations

Question 21

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The following information is for Hulk Gyms' first year of operations. Amounts are in millions of dollars. The enacted tax rate is 30%. The following information is for Hulk Gyms' first year of operations. Amounts are in millions of dollars. The enacted tax rate is 30%. Required: Prepare a compound journal entry to record the income tax expense for the year 2018. Show well-labeled computations. Required:
Prepare a compound journal entry to record the income tax expense for the year 2018. Show well-labeled computations.

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