The following information relates to Hoover Limited for the year ended 30 June 2015. Accounting profit before
Fantastic news! We've Found the answer you've been seeking!
Question:
The following information relates to Hoover Limited for the year ended 30 June 2015.
| Accounting profit before income tax (after all expenses have been included) | $280000 |
| Fines and penalties (not tax deductible) | 22 000 |
| Depreciation of plant (accounting) | 50 000 |
| Depreciation of plant (tax) | 110 000 |
| Long-service leave expense (not a tax deduction until the leave is paid) | 10 000 |
| Income tax rate | 30% |
No employee has been paid long-service leave in the current year. On the basis of this information the current tax liability is:
Expert Answer:
Posted Date:
