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Question 1: The Waloneke Company has a policy of using non-current assets until they can no longer be operated and are worthless. On 1 January 2017 it acquired an item of plant and machinery for Tk.100,000. It is being depreciated over 10 years on a straight-line basis. For tax purposes there is an allowance of 20% per annum on a reducing balance basis. There are two rates of tax: 15% on trading profits and 25% on gains on disposals. What deferred tax balance should Waloneke recognise at 31 December 2017, according to IAS12 Income taxes?
Question 2: The Kolpa Company purchased a building in January 2015 for Tk. 150,000. The accounting depreciation charge is 5% straight-line. For tax purposes, depreciation of 2% straight-line is deducted annually. The remaining cost will be deducted in future periods, either as depreciation or through a deduction on disposal. The tax rate is 25%. According to IAS12 Income taxes, what should be the deferred tax balance at 31 December 2018?
You are lucky to have won a new automobile, received a gift from a rich Aunt, What could be done to minimize your gross income
On 30 June 2015, Harry Ltd determines its total current tax liability for the year to be $28 000. Compute the final tax installment for the year
roverplus a pet product superstore is considering pricing a new roverplus labeled dog food. the company will buy the
Description of related learning styles best suited for the theory or approach. Example of how to use the approach or method in the math environment.
levels after adjusting for volumes and mandated expenditures identified in earlier steps and honoring all requests
1. internal control in not-for-profit organizations has been questions for years. these entities are usually run by a
For someone who has no basis of understanding in geometry, how does one start the writing of proofs process? Is there a helpful document to help a student know how to get started?
Minimum required rate of return 15%. Calculate the average operating assets reported by Division A during the most recent year
Discuss the 2 pros and 2 cons of activity-based costing. Give an example of a situation where activity-based costing could be used effectively.
What will be the book value of this purchase (excluding all other Plant and Equipment) after its first year of use? Use generally accepted (FASB) accounting principles.
What are the 6 principles in the AICPA's CPC and the purpose of each principle?
Stefani Company has gathered the following information about its product. Compute Stefani's total standard cost per unit
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