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Included in the (draft) accounting profit before tax of C Ltd is proceeds from sale of plant of $25,000 and accounting carrying amount of plant
Included in the (draft) accounting profit before tax of C Ltd is proceeds from sale of plant of $25,000 and accounting carrying amount of plant sold of $32,000. For tax purposes, the carrying amount of the plant sold was $27,000. What is the impact of this transaction for C Ltd. in accordance with the requirements of AASB112 Income Taxes? a decrease in taxable profit of $5,000 compared to accounting income a decrease in taxable profit of $2,000 compared to accounting income an increase in taxable profit of $5,000 compared to accounting income an increase in taxable profit of $2,000 compared to accounting income
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