1. Income tax expenses are recognized based on the income tax payable calculated in accordance with the tax laws for the current period.

Accounting profit: 20 million

Add: Tax adjustment for estimated liabilities: 400,000 (400,000-0)

Add: Tax adjustment for depreciation expenses Amount: 1.5 million (3 million - 1.5 million)

Add: Fixed asset accrual and tax reduction amount: 1 million (1 million – 0)

Add: non-deductible Taxable adjustment for donations: 2 million

Less: Increase in fair value of trading financial assets: 1 million (1100-1000)

Debit: income tax expense 5.975 million

Credit: Taxes payable - income tax payable 5.975 million

2. According to the difference between the book value of assets and liabilities and the tax base, temporary differences and deferred income tax are recognized .

Book value of fixed assets = 1500-300-100= 11 million

Tax basis of fixed assets = 1500-150= 13.5 million

Can be deducted temporarily Temporary difference = 1350-1100 = 1.5 million (the deductible temporary difference shows that when the company uses and disposes of the fixed assets in the future, according to the provisions of the tax law, it should recognize deferred income tax assets of 625,000)

Deferred income tax assets = 250* 25% = 625,000

2. According to the difference between the book value of assets and liabilities and the tax base, temporary differences and deferred income tax are recognized.

Book value of estimated liabilities = 400,000

Tax basis of estimated liabilities = 0

Deductible temporary differences = 400,000-0=400,000

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Deferred income tax assets = 40*0.25=100,000

3. Differences caused by the inconsistency between the tax law and accounting standards in the scope and standards for revenue and expense recognition. Once this difference occurs, it is permanent. An external donation of 2 million yuan is a permanent difference. Permanent differences do not need to recognize deferred income tax

4. (The taxable difference indicates that when the company sells the financial trading assets in the future, it will need to increase its taxable income according to the provisions of the tax law. 600,000 yuan)

Book value of trading financial assets = 11 million

Tax basis of trading financial assets = 10 million

Taxable temporary differences = 1100-1000=1 million

Confirmed deferred income tax liability = 100*0.25=250,000

Deferred income tax entry:

Debit: Deferred Income tax assets 725,000

Credit: deferred income tax liabilities 250,000

Income tax expenses 475,000

If anything is wrong, it is expected to be corrected.