Solution-What is the current tax expense

What is the current tax expense

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Reference no: EM133172374

Question - CHARIZARD Company reported total tax expense of P2000000 in its 2022 statement of comprehensive income. The following changes in Charizard's tax assets and liabilities are available:

	December 31, 2022	December 31, 2021
Deferred tax asset	100,000	350,000
Income tax payable	350,000	600,000
Deferred tax liability	230,000	500,000

The deferred tax liability was caused by accelerated depreciation and the deferred tax asset is for rentals received in advanced. What is the current tax expense for 2022?

Reference no: EM133172374

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What is the current tax expense

Reference no: EM133172374

Reference no: EM133172374

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