User Account

All Pages

What is the amount of current tax payable by Young Ltd

Assignment Help Accounting Basics
Reference no: EM132634097

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

Additional information:

Plant was acquired by Young Ltd 2 years ago for $800,000

For accounting purposes, plant is depreciated at $50,000 per year

For tax purposes, plant is depreciated at $80,000 per year

The tax rate is 30% per annum.

Required - What is the amount of current tax payable by Young Ltd for the year ended 30 June 2020?

Reference no: EM132634097

Questions Cloud

How do describe the four functions of management : A common tool used in strategic planning S.W.O.T. Describe the four functions of management. What role do these play in the strategic decision making process?
Describe the positive and negative aspects of the job : You are the HR manager for a commercial airline. You have been assigned to develop a realistic job preview for flight attendants. Your objective is to give.
Interpreting data and information about competitors : What is the importance of collecting and interpreting data and information about competitors?
How would measure the activity effect on performance : If you could choose one (1) item for your career development that you wish your employer would cover, what would it be and why?
What is the amount of current tax payable by Young Ltd : For accounting purposes, plant is depreciated at $50,000 per year. What is the amount of current tax payable by Young Ltd
Financial benefits of undertaking strategic management : He wants you to identify four financial benefits and four non-financial benefits of undertaking strategic management. What would you tell him?
Describe the choice of various performance appraisal methods : Describe performance management, the performance appraisal, and the performance appraisal process. Describe the choice of various performance appraisal methods.
Compute the present value of the lease payments : Guaranteed residual value at the end of the lease term is $10 000. On inception date, compute the present value of the lease payments
Harry redner treatment of industrial capitalism : Discuss your reaction to Harry Redner's treatment of industrial capitalism, the legal-rational state, and techno-science.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe the ethics in accounting in detail

Prepare a one page summary (double-spaced) describing your topic proposal problem statement. You should discuss what your topic is, between three and five areas

  What financial ratio means terms of TRI financial stability

Interpret what each of these financial ratios means in terms of TRI's financial stability and operating efficiency.Calculate the select financial ratios

  Determine internal control system can guarantee completeness

Determine internal control system can guarantee completeness, accuracy and validity of the records, supporting answer by using examples from a payroll system

  Managerial accounting stresses

Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for:

  What would be the estimated cost of equity

The risk-free rate, rRF, is 5.0%, the market risk premium, RPM, is 6.0%, What would be the estimated cost of equity

  Record the purchase of the building on january

On January 1, 2018, Stoops Entertainment purchases a building for $420,000, Record the purchase of the building on January 1, 2018

  How much will Isabella have at retirement

Assuming that both Isabella and Chris receive 12% interest compounded annually per year, how much will Isabella have at retirement

  Compute the standard cost of one unit of product

Stanton Company is planning to produce 2,200 units of product in 2012. Compute the standard cost of one unit of product

  Prepare the journal entries for Milani

Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2020, for $199,000. Prepare the 2021 journal entries for Milani

  How much will operating income increase total

If compmany sells one additional unit (at the same selling price), how much will CM $ increase (total)? How much will operating income increase (total)?

  Deployment and post implementation plan

For this application you could either use a laptop or a computer. There are many options to getting the hardware necessary for the application. One option is to buy an all-in-one desktop which includes all the computer hardware, another option wou..

  Compute the depreciation for the second year

Kinney Company purchased a truck for $57,000. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $6,000 at the end of that time. During the second year the truck was driven 27,000 miles. Compute..

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