Question
The CFO of Pfizer Antivirus Ltd has provided you the following data: Accounting profit (loss) ($74,500) After debiting as expense: Goodwill impairment loss $5,000 Entertainment
The CFO of Pfizer Antivirus Ltd has provided you the following data:
| Accounting profit (loss) | ($74,500) |
| After debiting as expense: | |
| Goodwill impairment loss | $5,000 |
| Entertainment costs | $15,000 |
| Donation to political party | $30,000 |
| Depreciation expense plant | $50,000 |
| For tax purposes: | |
| Tax depreciation for plant | $25,000 |
| Long-service leave paid | $10,000 |
Prepare the Current tax worksheet and the Journal entry to record current tax liability on 30 June 2020.
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Financial And Managerial Accounting For Decision Makers
Authors: Michelle Hanlon, Robert Magee, Glenn Pfeiffer, Thomas Dyckman
4th Edition
1618533614, 9781618533616
