Unity's effective income tax rate for 2002 is 32%. The depreciation 5 points difference will reverse in equal amounts over the next three years at an enacted tax rate of 32%. In Unity's 2002 income statement, what amount should be reported as the current portion of its provision for income taxes? Unity Corp. prepared the following reconciliation between pretax accounting income and taxable income for the year ended December 31, 2002: Pretax accounting income Taxable income Difference P1,500,000 ( 900,000) P 600.000

Unity's effective income tax rate for 2002 is 32%. The depreciation 5 points difference will reverse in equal amounts over the next three years at an enacted tax rate of 32%. In Unity's 2002 income statement, what amount should be reported as the current portion of its provision for income taxes? Unity Corp. prepared the following reconciliation between pretax accounting income and taxable income for the year ended December 31, 2002: Pretax accounting income Taxable income Difference P1,500,000 ( 900,000) P 600.000

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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