how to determine the income tax expense for the Is? In Q2 note (ii) of dec07 is different from but i

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December 3, 2010 at 1:37 am #46454
calina
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please can you tell me when the income tax from the trial balance is deducted or added from the estimated provision for income tax for determine the income tax expense for the Is?
In Q2 note (ii) of dec07 Llama : it has being deducted( 400)
income tax expense= 18700-400-(11200-10000)=17100
—-but in Q2 note(v) of dec09 Sandown it has being added (2100)
income tax expense=16200+2100-1500=16800
thanks
December 3, 2010 at 1:32 pm #72229
MikeLittle
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If you look at it, I think you’ll find that in one case, it’s a credit figure on the trial balance and in the other question, it’s a debit on the trial balance. You need to go back to basic double entry principles and T accounts – sorry!
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