*see attachedWhat amount of income tax payable should be reported?a. P 385,000b. P 498,000c. P 425,000d. P 305,000 WEB Company had pretax financial income of P 2,500,000 in the current year.The entity made corporate estimated tax payment in the amount of P 180,000during the current year.To compute the provision for income tax, the following information wasprovided:Interest income received360,000160,000Tax depreciation in excess ofAccounting depreciationRent received in advanceCorporate income tax280,00025%

Name: *see attachedWhat amount of income tax payable should be reported?a. P
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Description: *see attachedWhat amount of income tax payable should be reported?a. P 385,000b. P 498,000c. P 425,000d. P 305,000 WEB Company had pretax financial income of P 2,500,000 in the current year.The entity made corporate estimated tax payment in the amoun

Interest is taxable @ 20% and liable to withholding tax of @20%. Excess tax depreciation will reduce…

Answered: What amount of income tax payable…

Business

Accounting

What amount of income tax payable should be reported? a. P 385,000 b. P 498,000 c. P 425,000 d. P 305,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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*see attached What amount of current tax expense should be reported?a. P 565,000b. P 678,000c. P 505,000d. P 325,000
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