Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question
A plant was purchased on 01 January 2020 for R600 000 and sold on 01 January 2021 for R510 000.The depreciation rate used by the accountant is 50% per annum on straight line basis. The rate of wear and tear allowed as a tax deduction is 33,3% per annum on straight line basis.
The profit before tax is R200 000 in 2020 and 2021,according to both the accountant and tax authority, before considering the asset in any way.
Additional information:
- Assume that there is no other information relating to any of the affected accounts.
- The income tax rate is 28% and there are no components of other comprehensive income.
Required:
1. Calculate the deferred income tax using balance sheet approach.
2. Briefly discuss the differences between the two methods which are used to calculate the deferred tax.
Karla Company acquired 20% of Victoria Company' s voting stock for P50,000,000 on January 1, 2020. What amount Karla report as gain from sale of investment
Mohan computes a total of $2,520 in estimated uncollectible accounts as of its current year-end. What amount of bad debt expense will Mohan report
Determine What's the present value of $5,000 discounted back 5 years if the appropriate interest rate is 4.5%, compounded semiannually?
Because of a new product line, your company's sales over the last few months have increased significantly. As a result, the amount of cash held by the company has increased to levels never experienced before. An evaluation by the company's financial ..
The amount accumulated at the end of these investments will be your retirement egg nest. How much are your monthly withdrawals
The lender agrees to lending at a fixed 3.85% interest rate during the loan period. What is the total cost of Mary's student loan?
In-A-Flash, Inc. is a manufacture of the very popular G36 motor cycles. The management at In-A-Flash has recently adopted absorption costing and is debating which denominator-level concept to use. The G36 motorcycles sell for an average price of $8,9..
Calculate the balance in Accumulated depreciation at the end of the second year for all three methods. On January 1, 2024, Texas Aero purchased a used airplane
How do Indicate whether the Billiards Company should make an accrual, a footnote disclosure, or neither of these for the contingency.
Joey receives $1722 from his grandparents. He wants to invest it for 4 years, How much money will he have in total with option 2?
On October 15, 2012, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2013, 23 million stock options were granted, exercisable for 23 million shares of Ensor's $1 par common stock. D..
Atlas Corp is considering two mutually exclusive projects. How much value will the firm gain or lose if Project 2 is chosen over Project 1?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd