Hello tutor,
I have been able to go through all the tax mini exercises except no.3
Kindly help me understand how $800 CREDIT was arrived at for DT and subsequently $12200 for P or L
Thank you
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Taxation
9y ago#1Good question! How come no-one else has spotted that!
You're correct - the tax expense figure in the statement of profit or loss should be $13,400,000
I have incorrectly taken the 20% of $6 million increase in the timing differences to the Revaluation Reserve where the question specifies that it should go through profit or loss
Well done :-)
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