题目内容

As at 30 September 20X3 Dune Co's property in its statement of financial position was: Property at cost (useful life 15 years) $45 million Accumulated depreciation $6 million On 1 April 20X4 Dune Co decided to sell the property. The property is being marketed by a property agent at a price of $42 million, which was considered a reasonably achievable price at that date. The expected costs to sell have been agreed at $1 million. Recent market transactions suggest that actual selling prices achieved for this type of property in the current market conditions are 10% less than the price at which they are marketed. At 30 September 20X4 the property has not been sold. At what amount should the property be reported in Dune Co's statement of financial position as at 30 September 20X4?

A. $36 million
B. $37.5 million
C. $36.8 million
D. $42 million

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Ullington Co's trial balance shows a debit balance of $2.1 million brought forward on current tax and a credit balance of $5.4 million on deferred tax. The tax charge for the current year is estimated at $16.2 million and the carrying amounts of net assets are $13 million in excess of their tax base. The income tax rate is 30%.What amount will be shown as income tax in the statement of profit or loss of Ullington Co for the year?

A. $15.6million
B. $12.6 million
C. $16.8 million
D. $18.3million

Jasper Orange Co's trial balance at 31 December 20X3 shows a debit balance of $700,000 on current tax and a credit balance of $8,400,000 on deferred tax. The directors have estimated the provision for income tax for the year at $4.5 million and the required deferred tax provision is $5.6 million, $1.2 million of which relates to a property revaluation.What is the profit or loss income tax liability for the year ended 31 December 20X3?

A. $1 million
B. $2.4 million
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D. $3.6 million

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C. $315,000
D. $345,000

The statements of financial position of Nedburg Co include the following extracts: Statements of financial position as at 30 September 20X2 20X1 $m $m Non-current liabilities Deferred tax 310 140 Current liabilities Taxation 130 160 The tax charge in the statement of profit or loss for the year ended 30 September 20X2 is $270 million. What amount of tax was paid during the year to 30 September 20X2?

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B. $130 million
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D. $440 million

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