On 1 January 2011, Zee Bhd acquired a plant for RM800,000 and estimated the economic life...
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On 1 January 2011, Zee Bhd acquired a plant for RM800,000 and estimated the economic life be 10 years and zero residual value. Capital allowance for tax purposes is 30% per annum There are no other items that will give rise to taxable temporary difference or deductible based on cost. temporary difference. Income tax rate is 25%. Required: Calculate the deferred tax liability at the end of year 2013 and the amount charged in the income statement for the year ended 31 December 2013. On 1 January 2011, Zee Bhd acquired a plant for RM800,000 and estimated the economic life be 10 years and zero residual value. Capital allowance for tax purposes is 30% per annum There are no other items that will give rise to taxable temporary difference or deductible based on cost. temporary difference. Income tax rate is 25%. Required: Calculate the deferred tax liability at the end of year 2013 and the amount charged in the income statement for the year ended 31 December 2013.
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Cost Residual Value Useful life 800000 0 10 80000 Accounting Records will be calculated thu... View the full answer
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