How do I calculate the before-tax total amount if the tax is 40% and after-tax amount is 1255162.00? (I do not have any other information like revenue or expenses)

Q: I am working on a homework assignment and a question states that a $1500 expense was not previously…

A: IAS 8 (Accounting policies, changes in accounting estimates, and errors)According to IAS 8…

Q: On page 2, number 16, how do I find the total for tax?

A: The total of tax is the tax amount which is payable amount which has been computed on the basis of…

Q: Now let's do a problem where we know the person's taxes and want to find their taxable income, and…

A: Adjusted Gross Income: It is the income arrived at after making adjustments from gross income for…

Q: Compute for the tax due of the following individuals using the RA 10963 tax table. Show…

A:

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.