trenton co incurred net operating loss 850000 2014 combined income 2012 and 2013 was 650000

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Required:

a.       Prepare the journal entries to record the benefit of loss carry back and loss carry forward option.

 

b.      Assuming that it is more likely than not that the entire net operating loss carry forward will not be realized in future years, prepare all the journal entries necessary at the end of 2014. 

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