User Account

All Pages

What is the amount of current tax payable by young ltd

Assignment Help Financial Accounting
Reference no: EM132631153

The accounting profit before tax for Young Ltd for the year ended 30 June 2020 was $800,000

Additional information:

  1. Plant was acquired by Young Ltd 2 years ago for $300,000
  2. For accounting purposes, plant is depreciated at $30,000 per year
  3. For tax purposes, plant is depreciated at $80,000 per year
  4. The tax rate is 30% per annum.

Required:

Problem 1: What is the amount of current tax payable by Young Ltd for the year ended 30 June 2020? (Round your result to the nearest dollar and enter a numerical value without any sign ($, + or -) or space.)

Reference no: EM132631153

Questions Cloud

Underwear bomber and top-down vs. bottom-up : Evaluate and then suggest the most important problem with top-down models of policy implementation by citing at least two problems associated with this model.
Why act considered a long and protracted political battle : Explain how this act helps to deliver better health care services. Explain the reasons why this act has been considered a long and protracted political battle.
What deferred tax item that will be recorded by adelaide ltd : Adelaide Ltd purchased equipment, If the company tax rate is 30%, the deferred tax item that will be recorded by Adelaide Ltd at 30 June 2021 is
What is the amount of the company net income or loss : Annapolis Corporation's trial balance included debits to expense accounts of $105,000, what is the amount of the company net income or loss
What is the amount of current tax payable by young ltd : What is the amount of current tax payable by Young Ltd for the year ended 30 June 2020? (Round your result to the nearest dollar)
How can you as the nurse best assist the client : As a public health nurse at a free clinic, you are assessing and interviewing a 21-year-old woman who has come to the clinic because she doesn't have any energy
Distinguish between a line of credit and a letter of credit : Distinguish between a line of credit and a letter of credit. Why do companies like the Estee Lauder Companies Inc. obtain lines of credit?
Question - Profitability with resource limitations : Question - Profitability with resource limitations. Assuming unlimited labor hours, which product should be promoted in the advertising campaign
Describe one pillar of the american government : Briefly describe one pillar of the American government, how it interacts with the other three pillars,

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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