A company reported in the income statement for the current year P900,000 income before provision for income tax. Please consider the following information: Rent income received in advance P150,000 Interest income on time deposit 200,000 Depreciation deducted for income tax purposes in excess of financial depreciation P100,000 Income tax rate 30%   1. How much is the taxable income? A. 950,000 B. 750,000 C. 850,000 D. 700,000 2. How much is the accounting income subject to tax? A. 900,000 B. 750,000 C. 700,000 D. 225,000 Thank you.

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