The entity made corporate estimated tax payment in theTo compute the provision for income tax, the followingTax depreciation in excess of financial statement amount 160,000Pecorino Company had pretax financial income of P2,500,0003. What amount of income tax payable should be reported?4. What amount of total tax expense should be reported?Problem 16-30 (IFRS)in the current year.amount of 180,000 during the current year.information was provided:360,000Interest income receivedTax depreciation in excess of financial statement amountRent received in advanceCorporate tax rate280,00030%1. What amount of permanent difference between bookincome and taxable income existed at year-end?a. 520,000b. 360,000c. 800,000d. 280,0002. What amount of current tax expense should be reported?a. 786,000b. 510,000c. 750,000d. 678,000000,00a: 498,000b. 606,000c. 330,000d. 570,0004. What amount of total tax expense should be repor0a. 714,000b. 726,000c. 642,000d. 594,000570

>Due to certain factors, there exists a difference between Pretax Financial Income and Taxable…

To compute the provision for income tax, the following The entity made corporate estimated tax payment in the Pecorino Company had pretax financial income of P2,500,000 3. What amount of income tax payable should be reported 4. What amount of total tax expense should be reported? in the current year. amount of 180,000 during the current year. information was provided: Interest income received Tax depreciation in excess of financial statement amount Rent received in advance Corporate tax rate 360,000 160,000 280,000 30% 1. What amount of permanent difference between book income and taxable income existed at year-end? a. 520,000 b. 360,000 c. 800,000 d. 280,000 2. What amount of current tax expense should be reported: a. 786,000 b. 510,000 c. 750,000 d. 678,000 3. What amount of income tax pavable should be reported a: 498,000 b. 606,000 c. 330,000 d. 570,000 a. 714,000 b. 726,000 c. 642,000 d. 594,000

To compute the provision for income tax, the following The entity made corporate estimated tax payment in the Pecorino Company had pretax financial income of P2,500,000 3. What amount of income tax payable should be reported 4. What amount of total tax expense should be reported? in the current year. amount of 180,000 during the current year. information was provided: Interest income received Tax depreciation in excess of financial statement amount Rent received in advance Corporate tax rate 360,000 160,000 280,000 30% 1. What amount of permanent difference between book income and taxable income existed at year-end? a. 520,000 b. 360,000 c. 800,000 d. 280,000 2. What amount of current tax expense should be reported: a. 786,000 b. 510,000 c. 750,000 d. 678,000 3. What amount of income tax pavable should be reported a: 498,000 b. 606,000 c. 330,000 d. 570,000 a. 714,000 b. 726,000 c. 642,000 d. 594,000

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter3: Taxes On The Financial Statements

Section: Chapter Questions

Problem 4BCRQ

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To compute the provision for income tax, the following 3. What amount of income tax payable should be reported? 4. What amount of total tax expense should be reported: Fecorino Company had pretaxr financial income of P2,500,00g The entity made corporate estimated tax payment in the Tax depreciation in excess of financial statement amount 160,000 Problem 16-30 in the current year. amount of 180, 000 during the current year. information was provided: S60,000 Interest income received Tax depreciation in excess of financial statement amount 280,000 S0% Rent received in advance Corporate tax rate 1. What amount of permanent difference between boo income and taxable income existed at year-end? a. 520,000 b. 360,000 c. 800,000 d. 280,000 2. What amount of current tax expense should be reported? a. 786,000 b. 510,000 c. 750,000 d. 678,000 3. What amount of income tax pavable should be reporer a. 498,000 b. 606,000 c. 330,000 d. 570,000 a. 714,000 b. 726,000 c. 642,000 d. 594,000
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