Identify deferred tax assets/liabilities of this year and previous yearin this figure and explain on what basis it is recognised 的和5.券間開全y! CMWAY 77 XInv CommonwXG how is incXInv Commony XConceptua X E Untitled do x9 | xa au.investing.com/equities/commonwealth-bank-of-australia-balance-sheetSign IInvesting.comSearch the website,PremiumChartsNewsAnalysisTechnicalsBrokersToolsMarkets vInsightsCryptoAustraliaWorld ADRSAustralia ADRSAmericasEuropeMiddle EastAsia/PacificStocksStock Screener640311750843Total Deposits32Other Bearing Liabilities, Total266331687720346Total Short Term Borrowings6606TCurrent Port. of LT Debt/Capital Leases105795458326Other Current liabilities, Total150156169860178752186956StocksTotal Long Term Debt150156178752186956Long Term Debt09869TCapital Lease ObligationsDeferred Income Tax2245.55Minority Interest5.Other Liabilities, Total44944397463286149844TimefraTotal Equity74998720087110269594Redeemable Preferred Stock, TotalSummaPreferred Stock - Non Redeemable, NetMovingCommon Stock, Total38546382823828238283IndicatoAdditional Paid-In CapitalRetained Earnings (Accumulated Deficit)34358313493116229376O AppleTreasury Stock - Common-129-151-263O AlphabESOP Debt GuaranteeUnrealized Gain (Loss)1056337383O Bank o669O JPMorg29110577341431669976502Other Equity, TotalTotal Liabilities & Shareholders' Equity0901768.14979868Total Common Shares Outstanding1772.351769.421767.73O BPTotal Preferred Shares OutstandingO Deutsch*in Millions of AUD (except for per share items)Recent QuDisclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time noraccurate. All CFDS (stocks, indexes, futures), cryptocurrencies, and Forex prices are not provided by exchanges but rather bymarket makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicativeand not appropriate for trading purposes. Therefore Fusion Media doesn't bear any responsibility for any trading losses vouCBA C op pajue au.investing.com/equities/commonwealth-bank-of-australia-balance-sheetvesting.comSearch the website...arketsInsightsPremiumCryptoChartsNewsAnalysisTechnicalsBrokersTaStocksStock ScreenerAustraliaWorld ADRSAustralia ADRSAmericasEuropeMiddle EastAsiaTotal Current AssetsTotal Assets1057734101406097986897650296610817867324665619Cash & Due from Banks144765123145118007118805Other Earning Assets, Total759118742473737033727002Net LoansProperty/Plant/Equipment, Total - Net5468560252052383Property/Plant/Equipment, Total - GrossAccumulated Depreciation, Total528459746921674Goodwill, Net17320993034Intangibles, NetLong Term Investments286530541822686032496Other Long Term Assets, Total41393830Other Assets, Total378264724633501Total Current LiabilitiesTotal Liabilities98273694205299 6806906Accounts Payable982613188102858666Payable/AccruedAccrued ExpensesTotal Deposits750843701551640311Other Bearing Liabilities, Total32Total Short Term Borrowings26633203466606TCurrent Port. of LT Debt/Capital LeasesOther Current liabilities, Total105795458326Total Long Term Debt150156169860178752186956ISLong Term Debt150156169860178752186956Capital Lease ObligationsDeferred Income Tax22430.51555.449445.39746Minority InterestOther Liabilities. Total3286149844

Tax is considered as the mandatory sum of money that is paid by the taxpayer to the state or local…

Answered: Identify deferred tax…

Identify deferred tax assets/liabilities of this year and previous yearin this figure and explain on what basis it is recognised

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.

Question

Identify deferred tax assets/liabilities of this year and previous yearin this figure and explain on what basis it is recognised

的和
5.
券
間開
全
y! CMWAY 77 X
Inv CommonwX
G how is inc
X
Inv Commony X
Conceptua X E Untitled do x
9 | x
a au.investing.com/equities/commonwealth-bank-of-australia-balance-sheet
Sign I
Investing.com
Search the website,
Premium
Charts
News
Analysis
Technicals
Brokers
Tools
Markets v
Insights
Crypto
Australia
World ADRS
Australia ADRS
Americas
Europe
Middle East
Asia/Pacific
Stocks
Stock Screener
640311
750843
Total Deposits
32
Other Bearing Liabilities, Total
26633
16877
20346
Total Short Term Borrowings
6606T
Current Port. of LT Debt/Capital Leases
105
795
458
326
Other Current liabilities, Total
150156
169860
178752
186956
Stocks
Total Long Term Debt
150156
178752
186956
Long Term Debt
09869T
Capital Lease Obligations
Deferred Income Tax
224
5.
55
Minority Interest
5.
Other Liabilities, Total
44944
39746
32861
49844
Timefra
Total Equity
74998
72008
71102
69594
Redeemable Preferred Stock, Total
Summa
Preferred Stock - Non Redeemable, Net
Moving
Common Stock, Total
38546
38282
38282
38283
Indicato
Additional Paid-In Capital
Retained Earnings (Accumulated Deficit)
34358
31349
31162
29376
O Apple
Treasury Stock - Common
-129
-151
-263
O Alphab
ESOP Debt Guarantee
Unrealized Gain (Loss)
1056
337
383
O Bank o
669
O JPMorg
291
1057734
1431
669
976502
Other Equity, Total
Total Liabilities & Shareholders' Equity
090
1768.14
979868
Total Common Shares Outstanding
1772.35
1769.42
1767.73
O BP
Total Preferred Shares Outstanding
O Deutsch
*in Millions of AUD (except for per share items)
Recent Qu
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor
accurate. All CFDS (stocks, indexes, futures), cryptocurrencies, and Forex prices are not provided by exchanges but rather by
market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative
and not appropriate for trading purposes. Therefore Fusion Media doesn't bear any responsibility for any trading losses vou
CBA C

op paju
e au.investing.com/equities/commonwealth-bank-of-australia-balance-sheet
vesting.com
Search the website...
arkets
Insights
Premium
Crypto
Charts
News
Analysis
Technicals
Brokers
Ta
Stocks
Stock Screener
Australia
World ADRS
Australia ADRS
Americas
Europe
Middle East
Asia
Total Current Assets
Total Assets
1057734
1014060
979868
976502
96610
81786
73246
65619
Cash & Due from Banks
144765
123145
118007
118805
Other Earning Assets, Total
759118
742473
737033
727002
Net Loans
Property/Plant/Equipment, Total - Net
5468
5602
5205
2383
Property/Plant/Equipment, Total - Gross
Accumulated Depreciation, Total
5284
5974
692
1674
Goodwill, Net
1732
099
3034
Intangibles, Net
Long Term Investments
2865
3054
18226
860
32496
Other Long Term Assets, Total
4139
3830
Other Assets, Total
37826
47246
33501
Total Current Liabilities
Total Liabilities
982736
942052
99 6
806906
Accounts Payable
9826
13188
10285
8666
Payable/Accrued
Accrued Expenses
Total Deposits
750843
701551
640311
Other Bearing Liabilities, Total
32
Total Short Term Borrowings
26633
20346
6606T
Current Port. of LT Debt/Capital Leases
Other Current liabilities, Total
105
795
458
326
Total Long Term Debt
150156
169860
178752
186956
IS
Long Term Debt
150156
169860
178752
186956
Capital Lease Obligations
Deferred Income Tax
224
30.
51
55
5.
44944
5.
39746
Minority Interest
Other Liabilities. Total
32861
49844

Definition Definition Estimated future tax made while preparing accounts. Deferred tax is estimated based on past and present transactions from financial statements. It is not the actual tax that needs to be paid or is refundable from the revenue authority; it is an accounting entry. It is necessary to account for deferred tax due to difference between accounting profits and taxable profits.

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