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How to write the amount of current tax payable by domino ltd

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Reference no: EM132570346

The accounting profit before tax for Domino Ltd for the year ended 30 June 20X6 was $572,000. Included in the accounting profit was the following item of income:

Interest revenue     53,000

Additional information:     

  • Interest is assessable for taxation purposes when received.
  • The tax rate is 30% per annum.

An extract from the draft Statement of Financial Position for the company is as follows:

Assets

Interest receivable          30 June 20X66,000          30 June 20X52,000

Required:

Question 1: Write the amount of current tax payable by Domino Ltd for the year ended 30 June 20X6

Reference no: EM132570346

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