inctax jan - Word (Product Activation Failed) ? - FX FILE HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEW VIEW Sign in & Cut Calibri (Body) * 11 - A A |Aa. A F. 21 1 a Copy AaBbCcDc AaBbCcDc AaBbCc AaBbcct AaBl Find AaBbCCC AaBbCcDa AaBbCcDa Gac Replace Paste Format Painter BI U - abe X2 X' A . Z . A . = = 1 1 2- 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... Emphasis 41 Select Clipboard G Font Paragraph Styles Editing X. Christopher Company has three financial statement elements for which the December 31, 2018 book basis is different from the December 31, 2018 tax basis: Book Basis Tax Basis Difference Equipment P2 000 000 P1 200 000 P800 000 Prepaid officers' insurance policy 750 000 0 750 000 Warranty liability 500 000 0 500 000 As a result of these differences, future taxable amounts are a. P500 000 b. P800 000 c. P1 550 000 d. P2 050 000 XI. Rice;'s income statement for the year ended December 31, 2019, shows pre-tax income of P2 000 000/ The following items were treated differently on the tax return and in the accounting records: Tax Return Accounting Record Rent revenue P140 000 P240 000 Depreciation expense 560 000 440 000 Premiums on officers' life insurance 180 000 Assume that Review's tax rate for 2019 is 30%. What is the amount of income tax payable for 2019? a. P534 000 b. P588 000 C. P648 000 d. P660 000 PAGE 13 OF 18 1898 WORDS DE ENGLISH (PHILIPPINES) - + 80% ENG 2:48 am 1 US 27/11/2021