Answer Happy

Question 9 Answer saved Marked out of 1.00 Flog question The Opening Balance on the Deferred Taxation Llability for CLARE Company for 2020 is $40,000 Credit CLARE Company provides the following information for the year-ended 31 December 2020: Taxable income = $700,000 Pre-Tax Income IFRS= $600,000 Tax Rate = 20% The Taxation Expense in CLARE Company's Income Statement for the year-ended 31 December 2020 will include Tax Expense of: Select one: O a None of these answers O b. $60,000 Oc. $140,000 d. $120,000

Question 8 Answer saved Marked out of 100 Flog question CORK Company provide the following informaton for the year ended 31 December 2016 Taxable income = $300,000 Pre-Tax Income IFRS - $400,000 Tax Rate = 30% The Journal entry to record this information will include which entry to the Deferred Taxation Liability account Select one: a. Credit $30,000 Ob. None of these answers OC. Debit $90,000 O d. Credit $90,000 Oe. Debit $30,000 Clear my choice