North dakota corporation began operations in january 2017 and purchased a machine for $14,000. north dakota uses straight-line depreciation over a four-year period for financial reporting purposes. for tax purposes, the deduction is 60% of cost in 2017, 20% in 2018, and 20% in 2019. pretax accounting income for 2017 was $144,000, which includes interest revenue of $17,000 from municipal bonds. the enacted tax rate is 30% for all years. there are no other differences between accounting and taxable income. required: prepare a journal entry to record income taxes for the year 2017.

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?