How Much Tax Would Be Reported Under the Taxes Payable

question 20

Multiple Choice

How much tax would be reported under the taxes payable method for F2015? $$\begin{array} { | l | r | r | r | } \hline & \text { F2013 } & \text { F2014 } & \text { F2015 } \\\hline \text { Income before tax } & 120,000 & 110,000 & 120,000 \\\hline \text { Taxable income } & 85,000 & 95,000 & 105,000 \\\hline \text { Tax rate } & 30 \% & 25 \% & 30 \% \\\hline\end{array}$$

• A)25,500
• B)31,500
• C)33,750
• D)36,000