A company is preparing its financial statements for the year ending 31 March 2020. The initial trial balance has the following figures relating to tax Income tax payable at 1 April 2019 £25,325 Icome tax paid during the year ended 31 March 2020 £15,225 The estimated income tax liability for the year ended 31 March 2020 is £16,650. What is the income tax figure for inclusion in the company's statement of profit or loss for the year ended 31 March 2020?
A company is preparing its financial statements for the year ending 31 March 2020. The initial trial balance has the following figures relating to tax Income tax payable at 1 April 2019 £25,325 Icome tax paid during the year ended 31 March 2020 £15,225 The estimated income tax liability for the year ended 31 March 2020 is £16,650. What is the income tax figure for inclusion in the company's statement of profit or loss for the year ended 31 March 2020?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company is preparing its financial statements for the year ending 31 March 2020. The initial
Income tax payable at 1 April 2019 £25,325
Icome tax paid during the year ended 31 March 2020 £15,225
The estimated income tax liability for the year ended 31 March 2020 is £16,650. What is the income tax figure for inclusion in the company's statement of profit or loss for the year ended 31 March 2020?
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