Financial Statements paper 2 1.5b

I am calculating this right to get the figure £15,500 is by adding £14,900 and £17,300 which are the future tax amounts and take away the tax amount due which is £16,700 to get the £15,500?

Comments

  • Irrorate
    Irrorate Registered Posts: 139
    Can you post the question please?
  • Zoynal98
    Zoynal98 MAAT, AATQB Posts: 65
    Please see below workings:

    Tax payable 1 Jul X0: £16,700
    What they actually paid at Year End: £14,900
    Overstated Tax by £1,800 (16,700 - 14,900 = 1,800)

    Reduce the tax charge next year because of the overstatement:

    £17,300 - £1,800 = £15,500

    Hope this helps
  • Deaniedani
    Deaniedani Registered Posts: 26
    Thank you, I appreciate it. =)
  • Zoynal98
    Zoynal98 MAAT, AATQB Posts: 65
    :+1:
Privacy Policy