Question
Please, answer. Will upvote if answered within 45 minutes. - The Begal Co. had taxable income of P21,000 during 2020. Begal Co. used accelerated depreciation
Please, answer. Will upvote if answered within 45 minutes.
- The Begal Co. had taxable income of P21,000 during 2020. Begal Co. used accelerated depreciation for tax purposes (P3,400) and straight-line depreciation for accounting purposes (P2,000). Assuming Begal Co. had no other temporary differences, what would the company's pretax accounting income be for 2020?
-Stephen Company had taxable income of P5,100 during 2020. Stephen used accelerated depreciation for tax purposes (P2,000) and straight-line depreciation for financial reporting purposes (P800). On December 30, 2020, Stephen collected the January 2021 rent of P900 on a lot it rents on a month-by-month basis to Larsen Corporation. Stephens pretax accounting income for 2020 would be:
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