A company had provided income tax for the previous year of $90,000 however it paid income...

 

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A company had provided income tax for the previous year of $90,000 however it paid income tax of $87,000 this year. At the year-end, the company estimates that $92,000 is owed in relation to income tax for the current year. What amount will be shown in the income statement account for the current year-end in respect of the income tax? A company had provided income tax for the previous year of $90,000 however it paid income tax of $87,000 this year. At the year-end, the company estimates that $92,000 is owed in relation to income tax for the current year. What amount will be shown in the income statement account for the current year-end in respect of the income tax?

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