Question
The depreciation reported on the financial statements needs to be reconciled. What is the effect of this on tax in future periods? Discuss in 50
The depreciation reported on the financial statements needs to be reconciled. What is the effect of this on tax in future periods? Discuss in 50 to 80 words.
| ABC Ltd Depreciation Reconciliation Statement Year ended 30/6/20xx | |
|---|---|
| Depreciation Per Financials | 350,000 |
| Less | |
| Depreciation allowable per tax legislation | 250,000 |
| Equals | |
| Differed depreciation amount | 100,000
|
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Latest Qualified Internal Auditor Exam Questions
Authors: Pass Assured
1st Edition
1699310599, 978-1699310595
