Solution-What amount should be reported as total income tax

What amount should be reported as total income tax expense

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Reference no: EM132913079

ROLINDA Company provides the following data for their first year of operations:

Pretax financial income 1,500,000
Nontaxable interest received (100,000)
Depreciation in excess of financial depreciation 50, 000
Rent received in advance 150,000
Corporate tax rate 30%

Question 1: What amount should be reported as total income tax expense?

a. 420,000

b. 540,000

c. 450,000

d. 0

Reference no: EM132913079

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What amount should be reported as total income tax expense

Reference no: EM132913079

Reference no: EM132913079

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