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What is the pretax accounting income

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Question - The Garlic Pepper Steak Company had taxable income of P1,200,000 during 2020. Garlic Pepper Steak Company used accelerated depreciation for tax purposes (P340,000) and straight-line method for financial accounting purposes (P200,000). Assuming Garlic Pepper Steak Company had no other temporary difference, what is the pretax accounting income for 2020?

Reference no: EM133063042

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