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# C. The company's income tax rate is 20%. After making all the above adjustments, SPC's net...

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C. The company's income tax rate is 20%. After making all the above adjustments, SPC's net income before taxes $10,000. No income tax has been paid or recorded. Record at the adjusting entry for income tax and 20% on that income before taxes of$10,000.
Fnewconnect.mheducation.com%252F#/activity/questi apter 4 HW 0 Saved wy 1. in the first account field.) 2 nts a. Prepaid Insurance shows a balance of zero at September 30, but Insurance Expense shows a debit balance of $2,340, representing the cost of a three-year fire insurance policy purchased on September 1 of the current year. b. On August 31 of this year, Cash was debited and Service Revenue was credited for$1,500. The S1,500 related to fees for a three- month period beginning September 1 of the current year. c. The company's income tax rate is 20%. After making the above adjustments, SPC's net income before tax is $10,000. No income tax has been paid or recorded. eBook View transaction list Print Journal entry worksheet eferences Record the adjusting entry for income tax of 20% on net income before tax of$10,000 Note: Enter debits before credits Transaction General Journal Debit Credit с Record entry Clear entry View general journal

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