Question
10. At the start of the year a company had an opening credit balance on its current tax account of $132,000. Payments of $129,000
10. At the start of the year a company had an opening credit balance on its current tax account of $132,000. Payments of $129,000 were made to the tax authorities during the year. At the end of the year the tax due on its trading profits was $163,000 and there was to be a reduction in the deferred tax liability of $18,000. What is the charge to tax in the statement of profit or loss and comprehensive income for the year? A B C D [ ] [ ] ] $142,000 $160,000 [ $163,000 [ ] $178,000
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Introduction to Governmental and Not for Profit Accounting
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
7th edition
9780132776073, 132776014, 978-0132776011
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