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Compute for the income tax expense recognised

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Reference no: EM132584942

ABC Co. financial reporting year ends June 30 and reports quarterly, its taxable year ends december 31. For the financial year begins July 1, 20x2, ABC earns 20,000 pre tax profit each quarter. The estimated average annual income tax rate is 30% in 20x1 and 40% in 20x2

Requirement:

Question 1: Compute for the income tax expense recognised in the quarterly interim financial statements.

Reference no: EM132584942

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