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For the year ended December 3 1 , 2 0 2 3 , Concord Ltd . reported income before income taxes of $ 1 8
For the year ended December Concord Ltd reported income before income taxes of $ Prior to taxable income and accounting income was the same each year.
In Concord Ltd paid $ for advertising; of this amount, $ was expensed in The remaining $ was treated as a prepaid expense for accounting purposes and would be expensed equally over the period. The full $ was deductible for tax purposes in
The company paid $ in for membership in a local golf club which was not deductible for tax purposes
In Concord Ltd began offering a year warranty on all merchandise sold. Warranty expenses for were $ of which $ was actual repairs for and the remaining $ was estimated repairs to be completed in
Meal and entertainment expenses totalled $ in only half of which were deductible for income tax purposes.
Depreciation expense for was $ Capital Cost Allowance CCA claimed for the year was $ Depreciation and CCA relate to an asset that was purchased on January for $
Concord was subject to a income tax rate for Concord follows IFRS.
a
Y Your answer is correct.
Calculate the amount of any permanent differences for
Permanent differences $
eTextbook and Media
List of Accounts
Attempts: of used
b
c
Calculate taxable income and the amount of current income taxes expense for
Taxable income $
Income taxes payable
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