Question
Company accounting calculation changes in tax rates On 1 November 2018, the company rate of income tax was changed from 35% to 30%. At the
"Company accounting"
calculation changes in tax rates
On 1 November 2018, the company rate of income tax was changed from 35% to 30%. At the previous reporting date (30 June 2018) Montgomery Limited had the following tax balances:
Deferred tax assets$33 500
Deferred tax liabilities$18 000
What is the impact of the tax rate change on income tax expense?
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
