Dive Company, a calendar-year corporation, had the following actual income before income tax expense and estimated effective annual income tax rates for the first three quarters in 2020. Dive's income tax expense in its interim income statement for the third quarter should be: * a. P126,000. b. P68,400. c. P62,400. d. P54,000.

Dive Company, a calendar-year corporation, had the following actual income before income tax expense and estimated effective annual income tax rates for the first three quarters in 2020. Dive's income tax expense in its interim income statement for the third quarter should be: * a. P126,000. b. P68,400. c. P62,400. d. P54,000.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter6: Accounting Periods And Other Taxes

Section: Chapter Questions

Problem 8MCQ

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