GYV Ltd has the following deferred tax balances as at 30 June 2019. Deferred tax asset $900000 Deferred tax liability $700000 The above balances were calculated when the tax rate, was 20 per cent. On 1 December 2019 the government raises the corporate tax rate to 25 per cent. Provide the journal entries to adjust the carry-forward balances of the deferred tax asset and deferred tax liability
GYV Ltd has the following deferred tax balances as at 30 June 2019. Deferred tax asset $900000 Deferred tax liability $700000 The above balances were calculated when the tax rate, was 20 per cent. On 1 December 2019 the government raises the corporate tax rate to 25 per cent. Provide the journal entries to adjust the carry-forward balances of the deferred tax asset and deferred tax liability
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 23P
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GYV Ltd has the following
The above balances were calculated when the tax rate, was 20 per cent. On 1 December 2019 the government raises the corporate tax rate to 25 per cent.
Provide the
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