Preview File Edit View Go Tools Window Help 60% Wed 10:43 am a IMG_5904.heic Search On 1 July 2017, Bright Star Ltd was incorporated. The accounting profit and other relevant information of Bright Sta for the two years to 2019 are as follows: 2019 2018 Profit before tax $4 500 000 $3 600 000 Warranty expense 1500 000 DOCX 1.docx 60 000 60 000 Depreciation expense – machinery Gain on sale of machinery for accounting | Warranty paid 750 000 Tax depreciation – machinery 90 000 90 000 Gain on sale of machinery for tax IMG 5903.hei 750 000 1500 000 Provision for warranty- carrying amount Provision for warranty-tax base - Machinery-carrying amount 180 000 240 000 Machinery-tax base 120 000 210 000 IMC The company tax rate is 30%. 山TC FEB 1 17 W •..
Preview File Edit View Go Tools Window Help 60% Wed 10:43 am a IMG_5904.heic Search On 1 July 2017, Bright Star Ltd was incorporated. The accounting profit and other relevant information of Bright Sta for the two years to 2019 are as follows: 2019 2018 Profit before tax $4 500 000 $3 600 000 Warranty expense 1500 000 DOCX 1.docx 60 000 60 000 Depreciation expense – machinery Gain on sale of machinery for accounting | Warranty paid 750 000 Tax depreciation – machinery 90 000 90 000 Gain on sale of machinery for tax IMG 5903.hei 750 000 1500 000 Provision for warranty- carrying amount Provision for warranty-tax base - Machinery-carrying amount 180 000 240 000 Machinery-tax base 120 000 210 000 IMC The company tax rate is 30%. 山TC FEB 1 17 W •..
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(a) Calculate the current and

Transcribed Image Text:Preview
File
Edit
View
Go
Tools
Window
Help
60%
Wed 10:43 am
a IMG_5904.heic
Search
On 1 July 2017, Bright Star Ltd was incorporated. The accounting profit and other relevant information of Bright Sta
for the two years to 2019 are as follows:
2019
2018
Profit before tax
$4 500 000
$3 600 000
Warranty expense
1500 000
DOCX
1.docx
60 000
60 000
Depreciation expense – machinery
Gain on sale of machinery for accounting
|
Warranty paid
750 000
Tax depreciation – machinery
90 000
90 000
Gain on sale of machinery for tax
IMG 5903.hei
750 000
1500 000
Provision for warranty- carrying amount
Provision for warranty-tax base
-
Machinery-carrying amount
180 000
240 000
Machinery-tax base
120 000
210 000
IMC
The company tax rate is 30%.
山TC
FEB
1
17
W
•..
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