ABC Company reported in its 2019 current tax expense at P 5,530,000. The following changes in ABC asset's and liabilities are as follows: Deferred tax asset 12/31/2019-200,000 12/31/2018-500,000   Deferred tax liability 12/31/2019-420,000 12/31/2018-600,000 Income tax payable 12/31/2019-850,000 12/31/2018-200,000 \ The deferred tax liability was caused by accelerated depreciation and the deferred tax asset is for rentals received in advance. How much is ABC's total income tax expense?

the pretax financial income (or loss) figures for metlock company are as follows 2022- 77000; 2023-(49000); 2024-(44000); 2025-125000; 2026-95000. pretax financial income (or loss) and taxable (loss) were the same for all years involved. Assumed a 20% tax rate for all years. Prepare the journal entries for the years 2022 and 2026 to record income tax expense and the effects of the net operating loss carry forwards. all income and losses related to normal operations (in recording the benefits of a loss carry forward assume that no valuation account is deemed necessary Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Balance Sheet Presentation Thiel Company reports the following deferred tax items at the end of 2019: Deferred TaxItem # AccountBalance Related Asset or LiabilityCreating the Deferred Tax Item 1 $6,700 debit     Current asset 2   7,200 credit     Current liability 3  10,600 debit     Noncurrent asset 4  15,500 credit     Noncurrent liability Required: Show how the preceding deferred tax items are reported on Thiel's December 31, 2019, balance sheet. THIEL COMPANYBalance Sheet (Tax Items)December 31, 2019 Noncurrent Liabilities   Deferred Tax asset or liability     $

A company reports the following pretax income (loss) for both financial reporting purposes and tax purposes. Year Pretax Income (Loss) Tax Rate 2018 $167,000 18% 2019 56,000 18 2020 (579,300) 23 2021 320,100 27 2022  580,700  31 Assuming that the company can carryforward its 2020 net operating loss, what is the amount of deferred tax asset the company would report at the end of 2020 related to this loss carryforward?