profit – Knowsia

FR – L2 – Q51 – Corporate Reporting and Compliance

Calculate Sharp Ltd's corporate income tax liability for 20X6 at a 34% tax rate.

Question

SHARP LTD (IV)
Using the information provided in “Sharp Ltd III” and assume that Sharp Ltd is subject to a higher tax rate of 34% in 20X6.

Required
(a) Calculate the corporate income tax liability for the year ended 31st December 20X6.

(b) Calculate the deferred tax balance that is required in the statement of financial position as at 31st December 20X6.

(c) Prepare a note showing the movement on the deferred tax account and thus calculate the deferred tax charge for the year ended 31st December 20X6.

(d) Prepare the statement of profit or loss note which shows the compilation of the tax expense for the year ended 31st December 20X6.

(e) Prepare a note to reconcile the product of the accounting profit and the tax rate to the tax expense for year ended 31st December 20X6.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compliance, Financial Reporting, profit, Tax Expense, Tax Reconciliation
Level: Level 2

Topic: Corporate Reporting and Compliance

SCS – L3 – Q2- Ethics and social responsibility

Explain four ethical problems managers face in dealing with stakeholders.

Question

2 Ethics and the environment

(a) Managers have a duty to aim for profit. At the same time, modern ethical standards impose a duty to guard, preserve and enhance the value of an enterprise for the good of all touched by it, including the general public.

Explain FOUR (4) ethical problems managers face in dealing with stakeholders.

(b) Business activities, in general, were formerly regarded as a problem for the environmental movement, but the two are now increasingly complementary. There has been an increase in the use of a green approach to market products.

Explain in FOUR (4) ways how physical environmental conditions are important for strategic planning.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bribery, Corporate Responsibility, Discrimination, Environmental Issues, Ethics, extortion, managers, profit, Stakeholders
Level: Level 3

Topic: Ethics and social responsibility

Tag (SQ): profit

Filter by Professional Bodies

Filter by Subject

Filter by Topics

Filter by Levels

FR – L2 – Q51 – Corporate Reporting and Compliance

Calculate Sharp Ltd's corporate income tax liability for 20X6 at a 34% tax rate.

SCS – L3 – Q2- Ethics and social responsibility

Explain four ethical problems managers face in dealing with stakeholders.

Our offerings

Community

Contact Info

Customer

Get In Touch

Tag (SQ): profit

Filter by Professional Bodies

Filter by Subject

Filter by Topics

Filter by Levels

FR – L2 – Q51 – Corporate Reporting and Compliance

Calculate Sharp Ltd's corporate income tax liability for 20X6 at a 34% tax rate.

You're reporting an error for "FR – L2 – Q51 – Corporate Reporting and Compliance"

SCS – L3 – Q2- Ethics and social responsibility

Explain four ethical problems managers face in dealing with stakeholders.

You're reporting an error for "SCS – L3 – Q2- Ethics and social responsibility"

Our offerings

Community

Contact Info

Customer

Get In Touch

admin

Pick a Form