Hi sir mike
I would like an advice from you for the below extract.
Here is TB amount for ‘Deferred tax’ and ‘Current tax’ before adjustment.
Deferred tax – Cr 2,500
Current tax – Cr 1,100
Provision of 2,400 is required and also need adjustment for 22,000 of Revaluation gain at the tax rate of 20%.
what is the amount Dt and Ct to be shown the sofp and sopl
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provision tax
10y ago#1Hi Josy
You haven't given me enough! What's the tax charge in the statement of profit or loss?
Is that "adjustment for 22,000 revaluation gain" an additional matter for deferred tax (I assume that it is but I want to be sure)
Are those figures of 2,500 DT and 1,100 CT as at the start of the year or are they, as your post could be interpreted, after the tax charge for the year has been recorded but before the deferred tax has been accounted for?
Please Josy, please make a big effort to give me ALL relevant information whenever you post a question! Please
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