The year-end Trial Balance of Flavour plc reports a credit balance of £1,500 described as taxation. This represents an over-provision for previous year’s taxation. Tax on the current year’s profit is estimated as £58,200. Identify the taxation expense to be included in current year’s Statement of income and, as current liability, in the corresponding Statement of financial position.

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Tax expense a £58,200 b £59,700 c £56,700 C d £58,200 Tax liability £59,700 £58,200 £58,200 £58,200