s of December 31, 2019, its first year of operations, PNR Co. had taxable temporary differences totaling P3,000,000, of which P1,000,000 relates to current items. PNR Co. also had deductible temporary differences totaling P1,500,000, of which P250,000 relates to current items. Pre-tax financial income for the year was P20,000,000. The income tax rate is 30%. How much should PNR Co. report as income tax payable on December 31, 2019? 5,550,000 5,775,000 6,000,000 6,450,000 answer not given
s of December 31, 2019, its first year of operations, PNR Co. had taxable temporary differences totaling P3,000,000, of which P1,000,000 relates to current items. PNR Co. also had deductible temporary differences totaling P1,500,000, of which P250,000 relates to current items. Pre-tax financial income for the year was P20,000,000. The income tax rate is 30%. How much should PNR Co. report as income tax payable on December 31, 2019? 5,550,000 5,775,000 6,000,000 6,450,000 answer not given
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter18: Accounting For Income Taxes
Section: Chapter Questions
Problem 8E: Incomc Taxes Then Company has been in operation for several years. It has both a deductible and a...
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As of December 31, 2019, its first year of operations, PNR Co. had taxable temporary differences totaling P3,000,000, of which P1,000,000 relates to current items. PNR Co. also had deductible temporary differences totaling P1,500,000, of which P250,000 relates to current items. Pre-tax financial income for the year was P20,000,000. The income tax rate is 30%. How much should PNR Co. report as income tax payable on December 31, 2019?
5,550,000
5,775,000
6,000,000
6,450,000
answer not given
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