Company F is preparing their income tax returns to be filed to BIR. The following are the
Fantastic news! We've Found the answer you've been seeking!
Question:
Company F is preparing their income tax returns to be filed to BIR. The following are the details of their transactions that transpired in 2020.
Accounting Income/Net incom 5,000,000.00
Unearned income 650,000.00
BIR penalties 45,000.00
Depreciation expense, straight-line5,000.00
Depreciation expense, Double-Declining 10,000.00
Required:
How much is the deferred tax asset and deferred tax liability?
Related Book For
Taxation Of Individuals And Business Entities 2021
ISBN: 9781260247138
12th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
Posted Date: