D Question 10An entity reported the following assets andliabilities at year end:AmountPropertyInventory7MPlant and Equipment4MLiabilities4MTax baseAccounts receivable3M5.5MCarrying10M5M2.5M2.4M6MThe entity had made a provision for inventoryobsolescense of 1.5M. Further, animpairment loss against accounts receivableof 600,000 has been made. the tax is 30%What amount should be reported as deferredtax liability? D Question 15lease with the following provisions:The lessee will pay an annual rental of1,000,000 for 10 years. implicit interest rateis 12%. Guaranteed residual value is 500,000The equipment will revert to the lessor at theend of the lease term. The lessor incurredinitial direct cost of 200,000 in finalizing thelease agreement.What is the net investment using the implicitinterest rate?(PV should be round off to 2 decimal places)

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An entity reported the following assets and liabilities at year end: Amount Property Inventory 7M Plant and Equipment 4M Liabilities 4M Tax base Accounts receivable 3M 5.5M Carrying 10M 5M 2.5M 2.4M 6M The entity had made a provision for inventory obsolescense of 1.5M. Further, an impairment loss against accounts receivable of 600,000 has been made. the tax is 30% What amount should be reported as deferred tax liability?

An entity reported the following assets and liabilities at year end: Amount Property Inventory 7M Plant and Equipment 4M Liabilities 4M Tax base Accounts receivable 3M 5.5M Carrying 10M 5M 2.5M 2.4M 6M The entity had made a provision for inventory obsolescense of 1.5M. Further, an impairment loss against accounts receivable of 600,000 has been made. the tax is 30% What amount should be reported as deferred tax liability?

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Fixed Assets And Intangible Assets

Section: Chapter Questions

Problem 10.26EX

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