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A company owes 300 tax at 1.7.X4 and 450 at 30.6.X5. Its income statement for the year to 30.6.X5 includes a tax charge of 400. How much tax was
A company owes £300 tax at 1.7.X4 and £450 at 30.6.X5. Its income statement for the year to 30.6.X5 includes a tax charge of £400. How much tax was actually paid in the year to 30.6.X5?
An organisation buys a tangible non-current asset for £200,000. It has an estimated scrap value of £20,000 and an expected useful economic life of 10 years. Using straight line depreciation he asset is sold for £120,000 in year 4, how will this affect:the income for year 4?the statement of financial position at the end of year 4?How will the sale of the tangible non-current asset affect the firm’s statement of cash flows?Be sure to demonstrate your numerical workings.
