[buttfacemcassbutt]

Great, I understand that now.

Thank you.

[buttfacemcassbutt]

Hi Mike,

First and foremost, thank you for the lectures, they are far more interesting than studying directly from a book.

I am struggling to understand how ‘a debit balance of $2.1 million brought forward on current tax’ would arise in a set of accounts.

It was my understanding that the tax entries were

Dr Corporation tax (Income statement)
Cr Corporation tax liability (SoFP)

Eventually the liability would be paid off through a bank payment.

Any help would be much appreciated.

Regards

[buttfacemcassbutt]

83%. I couldn’t be happier with that result! Congratulations to everyone who passed. Thanks opentuition!

Edit: Bolage, I think email replies are considerably (hours) slower than text so that is perfectly normal. Result release times and exam % have no correlation that I am aware of. Good luck!

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