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 180,000 during the current year. To compute the provision for income tax, the following information was provided: Interest income received 360,000 160,000 Tax depreciation in excess of Accounting depreciation Rent received in advance Corporate income tax 280,000 25%

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 180,000 during the current year. To compute the provision for income tax, the following information was provided: Interest income received 360,000 160,000 Tax depreciation in excess of Accounting depreciation Rent received in advance Corporate income tax 280,000 25%

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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