ABC's Year 2015 Income statement per GAAP reported a net income before tax P6,000,000. The following...

Transcribed Image Text:

ABC's Year 2015 Income statement per GAAP reported a net income before tax P6,000,000. The following are included in the above reported income: • dividend income (exempt from income tax) P500,000 • Income that would be taxable only in next 2 years 1,200,000 upon collection 23) The total income tax expense of ABC for year 2015 at 35% income tax is ABC's Year 2015 Income statement per GAAP reported a net income before tax P6,000,000. The following are included in the above reported income: • dividend income (exempt from income tax) P500,000 • Income that would be taxable only in next 2 years 1,200,000 upon collection 23) The total income tax expense of ABC for year 2015 at 35% income tax is

Answer rating: 100% (QA)

To calculate the total income tax expense for ABC for the ... View the full answer