Question: can someone please explain the three questions below Topic: L04 99) G Ltd. provided you with the following information: Year 20x11 20x12 20x13 20x14 20x15

Topic: L04 99) G Ltd. provided you with the following information: Year 20x11 20x12 20x13 20x14 20x15 Taxable Income (loss) $300,000 ($150,000) $330,000 $80,000 ($400,000) Tax rate 38% 40% 45% 40% 40% - >70,000 There are no temporary differences. What is the tax recovery in 20x15? A) $160,000 B) $169,500 C) $176,000 D) None Ans: C Difficulty: Medium Level of Learning: Knowledge Topic: LO2 Top Income 320, 000 80,000 Tax Rate 45% Amount 144,000 32,000. 2013. 407. 2014 Total booo Chapter 16 - Accounting for Tex Lomes 100.JR Lid. provided you with the following information: Year Year 2014 Taxable income 80,000 Tax rats 401. Taxable Tax Income (less) mate 20x11 20x12 $300,000 38% ($150,000) 40% 2012 $330.000 20x14 380,000 4096 20x15 (S400,000) 40% There are no temporary differences. What will be the credit to the income tax expense account assuming a greater than 50% probability of realization? A) $32,000 B) 50 C) $196,000 D) $80,000 noa Ans: A Difficulty: Medium Level of Learning: Knowledge Topic: LO4 rate 101.JOR Ltd. provided you with the following information: Year Taxable Tax Income (loss) 20x11 $300,000 38% 20x12 ($150,000) 40% 20x13 $330,000 45% 20x14 $80,000 40% 20x15 (S400,000) 40% There are no temporary differences. What will be the credit to the income tax expense account assuming a less than 50% probability of realization? A) $32,000 B) $0 c) $196,000 $80,000 Ans: B Difficulty: Medium Level of Learning: Knowledge Topic: LO2
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