Question
On 1 April 2017, the company rate of income tax changed from 30% to 32%.At the previous reporting date (30 June 2016) Langer Limited had
On 1 April 2017, the company rate of income tax changed from 30% to 32%.At the previous reporting date (30 June 2016) Langer Limited had the following tax balances:
Deferred tax assets $8,250
Deferred tax liabilities $12,000
What is the impact of the tax rate change on income tax expense?
Increase $234
Decrease $250
Decrease $234
Increase $250
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Managerial Accounting
Authors: Wendy M. Tietz, Louis Beaubien, Karen W. Braun
3rd Canadian edition
