User Account

All Pages

What is the current tax liability of Gail Ltd

Assignment Help Accounting Basics
Reference no: EM132632899

Question - The following information relates to Gail Ltd for the year ended 30 June 2020. Accounting profit before income tax $100,000 Fines and penalties (not tax deductible) 12,500 Depreciation of plant (accounting) 15,000 Depreciation of plant (tax) 40,000 Long-service leave expense (not a tax deduction until the leave is paid) 4,000 Income tax rate 30% accounting profit after deducted all expenses for accounting purposes. What is the current tax liability of Gail Ltd for the year ended 30 June 2020, based on the information given above?

Reference no: EM132632899

Questions Cloud

How has the covid pandemic impacted the pace : Which parties have been the biggest "winners" and "losers" as a result of digital transformation and disruption? How has the COVID-19 pandemic impacted the pace
Prepare the journal entries to record the transactions : LMS Ltd was incorporated on 1 January 2020. Prepare the journal entries to record the transactions of LMS Ltd on 10 March 2020
What leads to the mechanism of natural selection : Genetic mutation is what leads to the mechanism of natural selection, and thus contributes directly to evolution, a necessary and useful process.
Formative and summative assessments : When planning assessments for your students, why is it important to include both formative and summative assessments?
What is the current tax liability of Gail Ltd : Income tax rate 30% accounting profit after deducted all expenses for accounting purposes. What is the current tax liability of Gail Ltd for the year
How the cell cycle plays a role in the development of cancer : Explain how the cell cycle plays a role in the development of cancer.
Analyze qualities and skills of a highly effective leader : Conduct an analysis of your personal ethical beliefs and values. Use the ethics self-assessments to help determine your strengths, weaknesses
What is the fourth phase of the cell cycle : 1. What is the fourth phase of the cell cycle? What is happening to the paired chromosomes?
Para educator case scenario : Special education teachers are placed in the position of coaching and supervising para educators, often with little direction from school administration.

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