At the end of the financial year, on March 31, 2021. Zulu Ltd has provided the...

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At the end of the financial year, on March 31, 2021. Zulu Ltd has provided the following details in relation to the business: o It made profits before interest and tax amounting to $3.489,000 O It has in issue 6% redeemable preference shares totaling $12.800,.000: half of the dividends remain unpaid at the year end • Estimated tax in the previous period amounted to $219.300, but was eventually settled with the tax authorities at $384,500 o Estimated tax on profits for this year has not yet been pald • The defered tax balance at the start of the period was a iability of $180.000 • Deductible temporary differences for the period amounted to $960.000 The applicable tax rate is 30% REQUIRED: Present the statement of profft or loss and statement of financial position extracts for the period. showing all relevant workings. Both extracts should show information specific to the tax and dividend caiculations. and the statement of profit or foss extract should show the detais leading up to profit afler tai At the end of the financial year, on March 31, 2021. Zulu Ltd has provided the following details in relation to the business: o It made profits before interest and tax amounting to $3.489,000 O It has in issue 6% redeemable preference shares totaling $12.800,.000: half of the dividends remain unpaid at the year end • Estimated tax in the previous period amounted to $219.300, but was eventually settled with the tax authorities at $384,500 o Estimated tax on profits for this year has not yet been pald • The defered tax balance at the start of the period was a iability of $180.000 • Deductible temporary differences for the period amounted to $960.000 The applicable tax rate is 30% REQUIRED: Present the statement of profft or loss and statement of financial position extracts for the period. showing all relevant workings. Both extracts should show information specific to the tax and dividend caiculations. and the statement of profit or foss extract should show the detais leading up to profit afler tai

Answer rating: 100% (QA)

Workings Tax Expense Working 1 3489000 1046700 Profit Current tax estimate 1046700 x 3... View the full answer