J-Matt, Inc., had pretax accounting income of $291,000 and taxable income of $300,000 in 2009. The only difference between accounting and taxable income is estimated product warranty costs for sales this year. Warranty payments are expected to be in equal amounts over the next three years. Recent tax legislation will change the tax rate from the current 40% to 30% in 2011. Determine the amounts necessary to record J-Matt’s income taxes for 2009 and prepare the appropriate journal entry.

Income Tax Payable = 300,000 x 40% = 120,000

Deferred Tax:

300,000 - 291,000 = 9000

9,000 / 3 = 3,000

The appropriate journal entry would be:

Account Title                                      Dr                    Cr

Income Tax Expense                     117,000

Deferred Tax Asset                         3,000

   Income Tax Payable                                           120,000

3rd the reason why is because of management and leadership

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.