The income tax rate is 40 percent. The valuationallowance for deferred tax assets was zero throughout Year 7 and Year 8. Prepare the journal entry to recog-nize income tax expense for Year 7 and for Year 8.
Ikogosi Warm Springs. The Ikogosi Warm Springs is a tourist attraction located at Ikogosi, a town in Ekiti State, southwestern Nigeria. Flowing abreast the warm spring is another cold spring which meets the warm spring at a confluence, each maintaining its thermal properties. These attributes make the spring a tourist attraction in Nigeria.
The warm and cold springs of Ikogosi flow parallel and meet somewhere down to form a confluence, with each maintaining its thermal quality. This is the first of such an occurrence in the world. The warm spring has a temperature of 70Â°c at the source and 37Â°c after meeting a cold spring.