In the third quarter, Sorvil SA reports a profit before tax of 650,000. Its estimated annual effective tax rate remains unchanged at 24 % (case data, not imposed by the Standard). Case convention: deferred tax excluded; the expense has not yet been paid. Record the entry for the income tax expense of the period.
- Profit before tax of the third quarter
- 650,000
- Estimated annual effective rate (case data)
- 24 %