Question: Pls answer the following question below and explain as much as possible for me to comprehend it. Thank you so much tutors :) The related

Pls answer the following question below and explain as much as possible for me to comprehend it. Thank you so much tutors :)

The related data of South Africa Company in 2021:

Accounting income subject to tax P1,795,200

Dividends income received this year 50,000

The entity paid rent in 2019 for three years amounting to P1,800,000

Tax rate in 2019 30%

Tax rate in 2020 and 2021 20%

How much is the income tax expense - current?

How much is the total income tax expense?

How much is the income tax still payable?

What are the related journal entries?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Instruction: I have 3 questions. Answer the following questions below and explain as much as possible. Thank you so much:) Issuance of shares in exchange of noncash assets Shares issued for noncash...

Q:

Instruction: Answer the following questions below and Explain as much as possible. Thank you so much :) South Africa Company reported a taxable income of 2,575,000 The reconciling items are as...

Q:

Question 2 - Business NOTE: PICTURES ATTACHTED WITH INFORMATION THAT WILL ASSIST YOU WITH ANSWERING THE QUESTION. CASE STUDY BELOW IS NEEDED TO ANSWER THE FOLLOWING QUESTION! THANK YOU. Woolworths...

Q:

Question 2 - Business NOTE: PICTURES ATTACHTED WITH INFORMATION THAT WILL ASSIST YOU WITH ANSWERING THE QUESTION. CASE STUDY BELOW IS NEEDED TO ANSWER THE FOLLOWING QUESTION! THANK YOU. Woolworths...

Q:

question 1 and 2 please Question 1 [16] 1.1. You are employed as a project manager for an International construction company, The director instructs you to look at the current company structure and...

Q:

Read the following: Ndung'u, N. (2017).Regulatory environment and technological innovation in Africa: Any tension? (Chapter 3). Foresight Africa 2017 Report. Brookings Institute.Retrieved from:...

Q:

Please read the text in photos and answer the following question in image,with a detailed answer of about 650 words RIO TINTO IRON ORE: CHALLENGES OF GLOBALIZATION IN THE MINING INDUSTRY In mid-2006,...

Q:

please help with the assignment to answer the following question : Which currency is Open Safari's presentation currency? Which currency is Open Safari's functional currency? Note: you will need to...

Q:

Read the text in images above and answer the following question In most industries, the effectiveness of supply chain management depends largely on the productivity and skill of the workforce . RTIO...

Q:

Please help me answer the following question and use excel for the formulas because I am using this information to write a paper. The company is Starbucks and I am trying to learn this on my own but...

Q:

Refer to the DFD in Figure. Study the portions of the figures and the accompanying narrative that deal with the cost accounting variance analysis system only. Prepare a detailed systems flowchart for...

Q:

If the population mean is 1,247, the population variance is 10,000, and the sample size is 100, what is the probability that x will be less than 1,230?

Q:

In a retail store, 7 5 % of customers buy a premium membership. Suppose the first X - I customers do not parchase the premium membership, while the Xth customer is the first to bury one. Then...

Q:

2. The force of interest 8 is a function of time and at any time t, measured in years, is given by the formula: 8(t) = 0.02 +0.0020 8(t) = 0.03 +0.005t Osts5 5 st s 10 a) Calculate the discount...