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What is the current tax expense for the current year

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Reference no: EM132813867

Hamilton Company reported pretax financial income of P6,200,000 for the current year. Included in other income was P200,000 of interest revenue from government bonds held by the entity. The income statement also included depreciation expense of P500,000 for a machine costing P3,000,000. The income tax return reported P600,000 as depreciation on the machine. The enacted tax rate is 30% for the current year and future years.

Problem 1: What is the current tax expense for the current year?

A. 1,800,000
B. 1,770,000
C. 1,860,000
D. 1,830,000

Reference no: EM132813867

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