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How much is the income tax expense - current

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Reference no: EM133128377

Question - Answer the following question below and explain as much as possible.

The related data of South Africa Company in 2021:

Accounting income subject to tax P1,795,200

Dividends income received this year 50,000

The entity paid rent in 2019 for three years amounting to P1,800,000

Tax rate in 2019 30%

Tax rate in 2020 and 2021 20%

Required -

1. How much is the income tax expense - current?

2. How much is the total income tax expense?

3. How much is the income tax still payable?

4. What are the related journal entries?

Reference no: EM133128377

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