Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 24, 2024

Question No. 04 A. Ceylon Tea PLC acquired a machinery with cost amounted to Rs.800.000, Depreciation rate 25% Capital allowance rate 20% Corporate tax rate

image text in transcribed

Question No. 04 A. Ceylon Tea PLC acquired a machinery with cost amounted to Rs.800.000, Depreciation rate 25% Capital allowance rate 20% Corporate tax rate is 30% Required: Prepare deferred tax liability or asset account. (07

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Integrated Concepts And Procedures

Authors: Donald H. Taylor, G. William Glezen

5th Edition

0471524239, 978-0471524236

More Books

Students also viewed these Accounting questions

Question

★★★★★

Determine the amount of the standard deduction allowed for 2016 in the following independent situations. In each case, assume that the taxpayer is claimed as another person's dependent. a. Curtis,...

Answered: 1 week ago

Question

★★★★★

Describe the terminology that is used for ANOVA, especially the terms factor and level, identify the hypotheses for this test, and identify each in the context of a research example.

Answered: 1 week ago

Question

★★★★★

74. Consider the following data on active repair time (hours) for a sample of n 46 airborne communications receivers: .2 .3 .5 .5 .5 .6 .6 .7 .7 .7 .8 .8 .8 1.0 1.0 1.0 1.0 1.1 1.3 1.5 1.5 1.5 1.5...

Answered: 1 week ago

Question

★★★★★

Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Five-hundred thousand shares of common stock are authorized, and 40,000 shares have been...

Answered: 1 week ago

Question

★★★★★

If D0=$1.75,g (which is constant) =3.6%, and P0=$34.00, then what is the stock's expected total return for the coming year? 8.93% 7.41%6.97% 8.58% 9.20%

Answered: 1 week ago

Question

★★★★★

Which of the following is one of the problems with using fiscal policy to reduce the severity of business cycles? It takes too long for consumers to respond to fiscal policy. Policies that are...

Answered: 1 week ago

Question

★★★★★

1. Is working at a job for $15 an hour a manageable earning wage? Explain. 2. If necessary, what would you adjust in this budget? For example, the monthly student loan amount, the mortgage payment,...

Answered: 1 week ago

Question

★★★★★

The sales budget for your company in the coming year is based on a quarterly growth rate of 20 percent with the first-quarter sales projection at $226 million. In addition to this basic trend, the...

Answered: 1 week ago

Question

★★★★★

An experienced male mentor is working, in a paid relationship with a younger female mentee, helping her to think through her career options, following a breakdown in her personal relationship. The...

Answered: 1 week ago

Question

★★★★★

Problem 1.1 Find the equivalent stiffness at point A. Answer: 9.20106 N/m Problem 1.2 Consider a stainless-steel metal ruler. Assume it is 12 in long, 1.25 in wide, and 0.018 in thick with an elastic...

Answered: 1 week ago

Question

★★★★★

In half a page, explain how the child protection reporting system operates. In your answer, consider reporting protocols, policies for working with other agencies and how the system responds to...

Answered: 1 week ago

Question

★★★★★

How much are your customers worth to you over a lifetime of buying?

Answered: 1 week ago

Question

★★★★★

How many customers have you lost in the past year? Who are these customers?

Answered: 1 week ago

Question

★★★★★

Do you compare these fi gures to the total number of clients you have? How much does it cost you to get new customers?

Answered: 1 week ago

Previous Question Next Question