Solution-What is the income tax expense or benefit for the

What is the income tax expense or benefit for the year

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Reference no: EM132828044

BC Company prepared the reconciliation between pretax financial income and taxable income at December 31,2019, the end of its first year of operations.

Pretax financial income P 600,000
Rent collected in advance 200,000
Tax depreciation in excess of
book depreciation (900,000)
Taxable income (100,000)

problem 1: The deferred tax asset resulting from the operating loss carry forward is believed to be 100% realizable. Income tax rate is 30%. What is the income tax expense (benefit) for the year 2019?

Reference no: EM132828044

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What is the income tax expense or benefit for the year

Reference no: EM132828044

Reference no: EM132828044

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