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deferred Tax

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › deferred Tax

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • June 6, 2018 at 10:03 am #456842
    iyamu
    Participant
    • Topics: 286
    • Replies: 171
    • ☆☆☆

    the credit balance in the trial balance is the b/f

    and the provision required is the calculation we need to calculate …

    When the provision required is lets say 3000

    and bf is 2700

    then we credit the 300 to income tax expense in SPL

    My question is , the credit bal in the trial bal bf is it the liability or asset?

    June 6, 2018 at 4:59 pm #457146
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    Credit balances, according to (probably) the very, very, very first lecture that you have ever heard about double entry bookkeeping, can only be one of two things:

    They are either:

    incomes or

    liabilities

    OK?

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    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • The topic ‘deferred Tax’ is closed to new replies.

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