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Hi,
The example here showed that the “income tax (remaining balance from previous year) $10k”, this is supposed to be a “tax payable account” or expense account in the SOPL? The answer shown in solution is that the taxation expense were added current year provision of $135k+10k, which is very confusing. Anyone can explain the meaning of the $10K? I thought it supposed to be a liability account (ie tax payable).Thanks
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