question archive Dainty included the following items in pretax accounting income for 2014: Litigation loss estimated at P75,000 which will become tax deductible when settled in the Future
Dainty included the following items in pretax accounting income for 2014: Litigation loss estimated at P75,000 which will become tax deductible when settled in the Future
Subject:AccountingPrice:2.87 Bought7
Dainty included the following items in pretax accounting income for 2014: Litigation loss estimated at P75,000 which will become tax deductible when settled in the Future. Goodwill impairment of P87,500 which will never be deductible for income tax purposes Revenue from an installment sale of P112,500, which will be recognized as part of taxable income as received over the next three years Pretax financial income is P437,500.
1. How much should be the pretax financial income subject to income tax?
2. What is the net deferred tax expense?
Option 1
Low Cost Option
Download this past answer in few clicks
2.87 USD
PURCHASE SOLUTION
Option 2
Custom new solution created by our subject matter experts
GET A QUOTE
rated 5 stars
Purchased 7 times
