Rodrigo R.

asked • 6d

Which are the journal entries that summarizes Apple’s Income Tax Expense for 2017

In the report there is:

Provision for income tax expense =15738

Cash paid for income taxes = 11591


By seing this i would assume 15738 as a tax expense (debit), i would credit 11591 as cash and equivalentes and the diference i would assume as credit refering to defered tax liability (4147).

However in the cash flow statement, using the indirect method, defered tax income expense of 5966 is added to the net income. This way, i'm confused, shoudn't the defered tax income expense added in the cash flow be the same as the diference between the provision tax income (in the income statement) and the cash paid for income taxes??

What should i record in the journals as income tax expense then?

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