Z Ltd.has provided depreciation as per accounting records740 lakhs but as per tax records 760 lakhs. Unamortized preliminary expenses, as per tax records is 20.000. there is adequate evidence of future profit sufficiency. How much deferred tax asset/liability should be recognized as transition adjustment? Tax rate 30.

Z Ltd.has provided depreciation as per accounting records740 lakhs but as per tax records 760 lakhs. Unamortized preliminary expenses, as per tax records is 20.000. there is adequate evidence of future profit sufficiency. How much deferred tax asset/liability should be recognized as transition adjustment? Tax rate 30.

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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