What should Kent report as the current portion of its income tax expense in the year 2009?

Question

Quizplus · Accepted Answer

The current portion of income tax expense is the amount that is due and payable in the current year. In this case, Kent's income tax expense is $153,000 based on a tax rate of 30%. Therefore, the current portion of income tax expense would be the amount due and payable in 2009, which is $45,900 (30% of $153,000). Thus, option A is the correct choice.

What Should Kent Report as the Current Portion of Its