27. Analysis of the assets and liabilities of Iniwan Corp. on December 31, 2016 disclosed assets with a tax basis of P1,000,000 and a book basis of P1,300,000. There was no difference in the liability basis. The difference in the asset basis arose from temporary difference that would reverse in the following years: 2019- P72,000 2020- 40,000 The enacted tax rates are 30% for 2016- 2019 and 32% for the years 2020-2021. What is the total deferred tax 2017- P80,000 2018 - 70,000 2021 - P38,000 liability at December 31, 2016? А. Р90,000 В. Р91,560 C. P96,000 D. P99,000

27. Analysis of the assets and liabilities of Iniwan Corp. on December 31, 2016 disclosed assets with a tax basis of P1,000,000 and a book basis of P1,300,000. There was no difference in the liability basis. The difference in the asset basis arose from temporary difference that would reverse in the following years: 2019- P72,000 2020- 40,000 The enacted tax rates are 30% for 2016- 2019 and 32% for the years 2020-2021. What is the total deferred tax 2017- P80,000 2018 - 70,000 2021 - P38,000 liability at December 31, 2016? А. Р90,000 В. Р91,560 C. P96,000 D. P99,000

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter14: Taxes On The Financial Statements

Section: Chapter Questions

Problem 20CE

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