For the year ended december 31 20x3 tyre co reported pretax, Ask an Expert

Accounting

For the year ended December 31, 20X3, Tyre Co. reported pretax financial statement income of $750,000. Its taxable income was $650,000. The difference is due to accelerated depreciation for income tax purposes. Tyre’s effective income tax rate is 30% and Tyre made estimated tax payments during 20X3 of $90,000. What amount should Tyre report as current income tax expense for 20X3?

$135,000

$195,000

$105,000

$225,000

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92021148

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