Question: The Alberta Mining and Export Corporation ( AMEC ) has operations at several locations throughout the province of Alberta in Western Canada. AMEC reports under
The Alberta Mining and Export Corporation AMEC has operations at several locations throughout the province of Alberta in Western Canada. AMEC reports under IFRS as a publicly traded company. AMEC reported the following financial results all pretax amounts for the years X through X: AMEC has a tax rate of for each of the relevant years. AMEC claimed the following amounts as CCA on its income tax filings: X: X:X: times : Note: AMEC had no deferred income tax balances at January times Required: For each year, calculate the deferred income tax balance on the statement of financial position at the end of the year, and also net income. Negative amounts and deductible amounts should be indicated by a minus sign.The Alberta Mining and Export Corporation AMEC has operations at several locations throughout the province of Alberta in Western
Canada.
AMEC reports under IFRS as a publicly traded company.
AMEC reported the following financial results all pretax amounts for the years X through X:
AMEC has a tax rate of for each of the relevant years.
AMEC claimed the following amounts as CCA on its income tax filings:
X: $
X: $
X: $
X: $
Note: AMEC had no deferred income tax balances at January
Required:
For each year, calculate the deferred income tax balance on the statement of financial position at the end of the year, and also net
income. Negative amounts and deductible amounts should be indicated by a minus sign.
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