4. P Limited has an accounting profit before tax of $200 000. All of the...
50.1K
Verified Solution
Link Copied!
Question
Accounting
4. P Limited has an accounting profit before tax of $200 000. All of the following items have been included in the accounting profit: * Depreciation of plant $70 000 (tax deductible depreciation is $50 000) * Goodwill impairment $10 000 (non-deductible for tax purposes) * Long service leave expense provided $10 000 (no employee took long service leave during the year) * The tax rate is 30%The amount of current tax liability is:
A) $70 600
B) $72 600
C) $70 400
D) $72 000
E) $70 200
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
