Income Statement Tax adjustment...
gabriellenlewis
Registered Posts: 129
Accounting end period- 30 June 2011:
Corporation tax for current period - 1486.
Corporation tax balance of 60 included in trial balance was the result of an over estimate of tax liability for previous year.
How is the previous year tax 50? (As in, why do we subtract 50 from 1486).
Thanks.
Corporation tax for current period - 1486.
Corporation tax balance of 60 included in trial balance was the result of an over estimate of tax liability for previous year.
How is the previous year tax 50? (As in, why do we subtract 50 from 1486).
Thanks.
0
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