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What is the total income tax expense

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Reference no: EM132527227

Question - ABC Company reported pretax financial income of P2,000,000 for the year ended December 31,2020. The taxable income was P1,500,000.

The difference is due to accelerated depreciation for income tax purposes.

The income tax rate is 30% and ABC Company made estimated tax payment of P200,000 during the current year.

Required -

a. What is the journal entries for 2020?

b. What is the total income tax expense for 2020?

Reference no: EM132527227

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