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What is the amount of current tax expense for the year

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Reference no: EM133042040

Question - BBK Inc pretax profit in 2021 is 420,000. Its income tax rate is 30%. The only temporary difference on December 31, 2021 relates the following: Revenue of 320,000 recognized in 2021 was collected and taxed in 2022.

Warranty expense of 150,000 recognized in 2021 was settled and deducted for tax purposes on 2022. What is the amount of current tax expense for the year 2021?

Reference no: EM133042040

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