# Financial statements, Sample assessment 2 - question about tax

marcin_karpinski
Posts:

**5**Registered
Struggling with Reconciliation of profit from operations.... Financial statements, Sample assessment 2, question 1.

Statement of financial position, tax liabilities:

20X0: £3180

20X1: £2790

Statement of Profit or Loss, enden 30 June 20X1:

Tax paid: £2712.

In the answers, in Reconciliation.... the amount of Tax paid is:

My question is - how was this amount (£3102) calculated?

I was trying to figure it out, and:

2790-2712=78

3180-78=3102

but why? could someone explain?

Thank you in advance

Statement of financial position, tax liabilities:

20X0: £3180

20X1: £2790

Statement of Profit or Loss, enden 30 June 20X1:

Tax paid: £2712.

In the answers, in Reconciliation.... the amount of Tax paid is:

**£3102**My question is - how was this amount (£3102) calculated?

I was trying to figure it out, and:

2790-2712=78

3180-78=3102

but why? could someone explain?

Thank you in advance

## Comments

143Registered, TutorThis year they need to pay another £2,712, so they owe £5,892 (3,180+2,712)

At the end of the year they only owe £2,790, so they must have paid £3,102 (5,892-2,790)

2Registered20×1 is Closing liability/tax

2712 is the tax from income statement

therefore we have to find tax paid which is

opening taxation + income statement tax - tax paid (x) = closing taxation

3180 + 2712 - x = 2790

find the value of x