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How much is the deferred tax asset for the year

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Problem - In 2020, Collector Corporation received in cash interest income of P100,000 on loans to others and royalties of P600,000. The company recognized P100,000 interest income and P400,000 royalty income per books. The regular income tax in the Philippines is 30%. How much is the deferred tax asset for the year?

Reference no: EM132946360

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