What should Kent report as the current portion of its income tax expense in the year 2013?

Question

Quizplus · Accepted Answer

To calculate the current portion of the income tax expense, we need to subtract the deferred tax expense from the total income tax expense. 
Total income tax expense for 2013 = $76,500.
Deferred tax expense for 2013 = $30,600.
Current portion of income tax expense for 2013 = $76,500 - $30,600 = $45,900.
Therefore, the correct choice is A, $45,900.

What Should Kent Report as the Current Portion of Its