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An extract from the trial batance of Kane Co as at 31 December 205 shows: Additional information: (1) The balance on the current tax payable
An extract from the trial batance of Kane Co as at 31 December 205 shows: Additional information: (1) The balance on the current tax payable acoount refers to the under/over provision of the previous year, Kane Co has received a current year income tax estimate of $20,000 (2) At 31 December 205 there are taxable temporary differences of $30,000. The income tax rate is 20%. What amount should be shown as the tax charge in the statement of profit or loss for the year ended 31 December 205 ? $30,000 $36,000 $60,000 $34,000
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