Solution-Calculate tax payable and the charge for 20x8

Calculate tax payable and the charge for 20x8

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Reference no: EM131800790

In 20X8 Darton Co had taxable profits of $120,000. In the previous year (20X7) income tax on 20X7 profits had been estimated as $30,000.

Required

Calculate tax payable and the charge for 20X8 if the tax due on 20X7 profits was subsequently agreed with

the tax authorities as:

(a) $35,000; or

(b) $25,000.

Reference no: EM131800790

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Calculate tax payable and the charge for 20x8

Reference no: EM131800790

Reference no: EM131800790

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