At an AGM of shareholders a shareholder wishes to know why the tax expense for the year
Question:
At an AGM of shareholders a shareholder wishes to know why the tax expense for the year is reported at £394,000; whereas the tax liability reported among the current liabilities is £378,000.
Required:
Explain the possible reason(s) to the shareholder.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
The tax liability included within current liability is only ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
Question Posted:
Students also viewed these Business questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
The current year's tax rate is 25%. After an authorized tax agent does the tax calculation, the company's income tax expense for the year ended 30 June 2019 was estimated at RM1,512,000. How much the...
-
Four hospitals located in one county are cooperating to establish a centralized blood-bank facility to serve them all. On an xy coordinate grid of the county, the hospitals are found at the following...
-
1. Was the A380 development a project or a programmed? 2. Using the notation of Figure 3.5, how has the development been managed? 3. Suggest what the challenges to the management of this development...
-
Leons Furniture Limited is an Ontario- based retailer of home furnishings. For each of the following first-quarter transactions, indicate whether net cash inflows (outflows) from operating activities...
-
White Mountain Corporation (WMC) sells computer components. It is a publicly traded corporation. William serves as WMCs Chief Executive Officer (CEO). William owns 15 percent of WMCs outstanding...
-
An injection molding machine has a first cost of $1,050,000 and a salvage value of $225,000 in any year the machine is sold. The maintenance and operating cost is $235,000 with an annual gradient of...
-
The _ _ _ _ function enables you to retrieve separate characters in a string. A . at ( ) B . char _ at ( ) C . indexof ( ) D . value _ of ( )
-
Lydall plc seeks your advice on how it should treat the following items, when preparing its financial statements for the year ended 31 December 2011: (a) 50,000 was paid as an out-of-court settlement...
-
The share capital of the company consisted of one million shares of 1 each. Those were issued for 1.50, for each of which 1 has been paid. The Statement financial position would refer to this as: (a)...
-
The choice of a CEO signals potential actions to stakeholders about a firms potential actions. Howard Schultz served as Starbucks CEO for many years; the firm achieved multiple successes during his...
-
A child has a future capital of $7,500 with a maturity of 4 years, if the interest rate is 14%. Calculate the current value with capitalization: monthly, bimonthly and quarterly. Compare the results.
-
Runner A is 50 m from the end of a race, and is running at a steady speed of 5 m.s-'. At that instant runner B is 10 m behind A, and running at 4 m.s-'. What acceleration does B need to tie the race,...
-
Using the active operation approach, determine the time complexity of the pseudocode Show all your work and express your final answer in big-Q notation. Consider the following pseudocode: 1...
-
Ivanhoe Company incurred research and development costs of $ 9 0 0 0 0 to develop a patent, and legal fees of $ 3 0 0 0 0 to register the patent. The patent has a legal life of 2 0 years and a useful...
-
Explain how Release of HIPAA information manager will need to adjust and adapt to overcome these challenges and avoid future risks?
-
Refer to the information in Exercise and complete the requirements for each of the three separate assumptions using the FIFO method for process costing. In Exercise The production department in a...
-
You are planning to purchase your first home five years from today. The required down payment will be $50,000. You currently have $20,000. but you plan to contribute $500 each quarter to a special...
-
Why would a marketing manager prefer to sell a product that has no close substitutes? Are high profits almost guaranteed?
-
If a manufacturers well-known product is sold at the same price by many retailers in the same co m munity, is this an example of pure competition? When a community has many small grocery stores, are...
-
List three products that are sold in purely competitive markets and three that are sold in monopolistically competitive markets. Do any of these products have anything in common? Can any...
-
Assuming the government imposes a per-unit tax of $6, what will be the efficiency loss to the economy? P 20 2226284 16 12 S D 0 0 4 8 12 16 20 24 Q
-
Choose any organization below, go to its Web site, and use the information there to write a brief report answering the following questions: 1. What is the role of the organization you chose to write...
-
There are only two countries in the world: Richland and Poorland. The labor demand curve in Richland is given by: W = K 4L Where W is the salary, K is a variable determined by the accumulated...
Study smarter with the SolutionInn App