What amount of current tax liability should be reported

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Reference no: EM132816015

Roberts Company reported P900,000 income before provision for income tax during the current year. To compute the provision for income tax, the following data are provided:

Rent received in advance 150,000

Interest income on time deposit 200,000

Depreciation deducted for income tax

purposes in excess of depreciation

for financial statement purposes 100,000

Estimated tax payment in the current year 125,000

Income tax rate 30%

Problem 1: What amount of current tax liability should be reported at year-end?

A. 100,000

B. 225,000

C. 210,000

D. 125,000

Reference no: EM132816015

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