Information for Kent Corp. for the year 2018: Reconciliation of pretax accounting income and taxable income: Cumulative future taxable amounts all from depreciation temporary differences: The enacted tax rate was 30% for 2017 and thereafter.
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What should Kent report as the current portion of its income tax expense in the year 2018?

Question

Information for Kent Corp. for the year 2018: Reconciliation of pretax accounting income and taxable income:  Cumulative future taxable amounts all from depreciation temporary differences:  The enacted tax rate was 30% for 2017 and thereafter.
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What should Kent report as the current portion of its income tax expense in the year 2018?

Quizplus · Accepted Answer

$153,000 × 30% = $45,900