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Verse Company's income statement for the year ended December 31, 2020 shows pretax income of P2,000,000. The following items are treated differently on the tax
Verse Company's income statement for the year ended December 31, 2020 shows pretax income of P2,000,000. The following items are treated differently on the tax returns and on the accounting records: Rent Expense Depreciation expense Interest on government bonds Financial Accounting P200,000 500,000 50,000 Income Tax Return PO 800,000 0 Income tax rate is 30%. How much is the current portion of Verse' income tax expense
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