Question
A company owes 300 tax at 1.7.X4 and 450 at 30.6.X5. Its income statement for the year to 30.6.X5 includes a tax charge of 400.
A company owes 300 tax at 1.7.X4 and 450 at 30.6.X5. Its income statement for the year to 30.6.X5 includes a tax charge of 400. How much tax was actually paid in the year to 30.6.X5?
An organisation buys a tangible non-current asset for 200,000. It has an estimated scrap value of 20,000 and an expected useful economic life of 10 years. Using straight line depreciation he asset is sold for 120,000 in year 4, how will this affect:the income for year 4?the statement of financial position at the end of year 4?How will the sale of the tangible non-current asset affect the firms statement of cash flows? Be sure to demonstrate your numerical workings.
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