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Astro Companys pretax income was $72,000. To compute taxable income, the following information is provided: Excess of estimated bad debts over write-offs $26,000 Penalty for
- Astro Companys pretax income was $72,000. To compute taxable income, the following information is provided:
Excess of estimated bad debts over write-offs $26,000
Penalty for late filing of income taxes 21,000
Excess of tax depreciation over accounting depreciation 36,000
Tax rate 20%
What is the current portion of income tax?
- $12,400
- $6200
- $16,600
- $22,600
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