User Account

All Pages

Prepare the current tax worksheet and the journal entry

Assignment Help Accounting Basics
Reference no: EM132834346

Question - The CFO of Pfizer Anti Ltd has provided you the following data:

Accounting profit (loss) ($74,500)

After debiting as expense

Goodwill impairment loss $5000

Entertainment costs $15000

Donation to political party $30000

Depreciation expense-plant $50000

For tax purposes

Tax depreciation for plant $25000

Long service leave paid $10000

Required - Prepare the Current tax worksheet and the Journal entry to record current tax liability on 30 June 2020.

Reference no: EM132834346

Questions Cloud

Prepare the direct labor budget for the next two months : Seth Corporation is working on its direct labor budget for the next two months. Prepare the direct labor budget for the next two months
What journal entries are required : What journal entries are required in the parent's pre-consolidation accounting records at January 1, 2020; December 31, 2020 and April 10, 2021
What do you think the writers specific purpose is in writing : What do you think the writer's "specific purpose" is in writing? What do they hope to achieve, and is this hope stated directly? How does the writer's intensity
How jk rowling commencement speech is working : Given the definition of critical reading above, how well does Winhover's essay function as a practice of critical reading? How specifically does Winhover step.
Prepare the current tax worksheet and the journal entry : Prepare the Current tax worksheet and the Journal entry to record current tax liability on 30 June 2020
Determining the value of the portfolio : What options should be purchased to provide protection against the value of the portfolio falling below 45 million in one year's time?
Evaluate main ethical issues regarding financial reporting : Evaluate the main ethical issues regarding financial reporting in this case. ( from the case study of Satyam computers limited executives.
How much would be the january amount recorded : The purchase was recorded to Prepaid Insurance. How much would be the January 31 amount recorded to expense (use two decimals)
What is the firm dividend payout ratio : Xilinx's net income (earnings) is $2,767,500,000. It is paying $590,400,000 in dividends. What is the firm's dividend payout ratio

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd