At December 31, 2018 AP Corporation had a deferred tax liability of P250, 000. At December 31, 2019, the deferred tax liability is P420, 000. The corporation’s 2019 current tax expense is P480, 000. What amount should AP report as total 2019 income tax expense?
At December 31, 2018 AP Corporation had a deferred tax liability of P250, 000. At December 31, 2019, the deferred tax liability is P420, 000. The corporation’s 2019 current tax expense is P480, 000. What amount should AP report as total 2019 income tax expense?
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 1P: Quince Corporation has taxable income of $485,000 for its calendar tax year. Calculate the...
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At December 31, 2018 AP Corporation had a
the deferred tax liability is P420, 000. The corporation’s 2019 current tax expense is P480, 000. What
amount should AP report as total 2019 income tax expense?
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