Question
speculate co is preparing it's financial statements for the year ended 30 September 20x3. the existing debit balance on the current tax account of $4.2
speculate co is preparing it's financial statements for the year ended 30 September 20x3. the existing debit balance on the current tax account of $4.2 m represent s the over /under provision of the tax liability for the year ended 30 September 20x2. a provision of $28m is required for income tax for the year ended 30 September 20x3 .the existing credit balance on the deferred tax account is $2.5m and the provision required at 30 September 20x3 is $4.4m.
calculate the total amount charged to the statement of profit and loss for the year ended 30 September 20x3 in respect of taxation ?
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