Fuuta Company has determined that its taxable income for the year 2021 is 3,000,000. The following related facts were gathered (The income tax rate for current and future years is 30%):

Cumulative temporary differences, 12/31/2021

Taxable temporary differences-1,480,000 Deductible temporary differences-750,000

Permanent differences:

Non-taxable revenue- 200,000

Non-deductible expenses- 600,000

Deferred tax asset, December 31, 2020- 150,000 Deferred tax liability, December 31, 2020-P300,000

How much is the total income tax expense (current and deferred) for the year 2021?
A. 813.000

B. 831.000

C. 900.000

D. 969.000

Answer rating: 100% (QA)

Statement Showing Tax expense for Fuuta Company Particulars Taxable Inc... View the full answer