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Hi Mike.
DT Debits 3000;1500(balancing igure)
Dr Credit 4500AND
C.T Debits 4600;7700
C.T Credits 1500;1500;9300(answer)Please help me. I cant get the answer.
Any idea which chapter this relates to?
!!!!!
I assume that it’s chapter 18
According to me, the figures are as follows:
Deferred Tax debits: 4,500
Deferred Tax credits: 3,000; 800; 700
Current Tax debits: 700; 4,600; 1,500
Current Tax credits: 7,700
That leaves a missing figure on the debit side of 900
Yes I see Mike.Where did you get 700 and 800 on C.R of D.T because i only get 3000 that was brought as a balance and we added 1500(balancing amount) and got 4500 as a c/b, and on C.T debits i only got 1500(taken from D.T.),4600 where did you get 700 on D.R on C.T?.Thanks.
800 is the tax rate applied to the revaluation (from memory)
700 is the balancing figure and is transferred to the debit side of the Current Tax
Check it out – if it doesn’t make sense, let me know and I’ll check out the question
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