on 1 july 2019,hupe ltd was incorporated.the accounting profit and other relavant information of huple...
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Accounting
on 1 july 2019,hupe ltd was incorporated.the accounting profit and other relavant information of huple ltd for the year ended 30/03/2020
profit before tax 275,000
warranty expence 55,000
warranty paid 10,000
provision for warranty - tax base - ____________
provision for warranty -carrying amount 45,000
the beginning balances of both the deffered tax assese and deferred tax liability accounts are zero.long service lease is deductable when it is actually paid.the company tax rate is 30%
required ,
calculate the current and deffered tax of huple ltd and prepare the required tax joural entries for the last year ended 30/6/2020(show all workings)
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