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Homework answers / question archive /  Andee Company has cumulative taxable temporary differences on December 31, 2020 and December 31, 2019 of P1,350,000 and P960,000 respectively

 Andee Company has cumulative taxable temporary differences on December 31, 2020 and December 31, 2019 of P1,350,000 and P960,000 respectively

Finance

 Andee Company has cumulative taxable temporary differences on December 31, 2020 and December 31, 2019 of P1,350,000 and P960,000 respectively. The tax rate enacted for 2020 is 40% while the tax rate enacted for future years is 30%. Taxable income for 2020 is P2,400,000 and there are no permanent differences.

 

What is the pretax financial income for 2020?

 

A.     2,790,000

B.     2,010,000

C.      1,050,000

D.     3,750,000

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