The following extracts from the profit and loss account and balance sheet have been provided: Extract...

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The following extracts from the profit and loss account and balance sheet have been provided: Extract from profit and loss account Taxation Year to 31 December 20X1 Year to 31 December 20X0 108,000 112,000 Extract from balance sheet Tax payable 31 December 20X1 102,000 31 December 20X0 115,000 For the year ended 31 December 20X1, what is the correct entry for tax paid to appear in the cashflow statement? The following extracts from the profit and loss account and balance sheet have been provided: Extract from profit and loss account Taxation Year to 31 December 20X1 Year to 31 December 20X0 108,000 112,000 Extract from balance sheet Tax payable 31 December 20X1 102,000 31 December 20X0 115,000 For the year ended 31 December 20X1, what is the correct entry for tax paid to appear in the cashflow statement?

Answer rating: 100% (QA)

To determine the correct entry for tax paid to appear in the cash flow statement f... View the full answer