A company's financial statements for the year to 30 June 2021 show a pre-tax profit of R750 000. This is after charging depreciation of R150 000. Wear and tear for the year for tax purposes is R240 000. Assuming that the rate of tax paid by the company is 40%, the required transfer to or from the company's deferred tax account is:
(2 Marks)

Question

A company's financial statements for the year to 30 June 2021 show a pre-tax profit of R750 000. This is after charging depreciation of R150 000. Wear and tear for the year for tax purposes is R240 000. Assuming that the rate of tax paid by the company is 40%, the required transfer to or from the company's deferred tax account is: 
 (2 Marks)

Accepted Answer

A transfer of R36 000 to the deferred tax account

Answer

A transfer of R96 000 to the deferred tax account

Answer

A transfer of R36 000 from the deferred tax account

Answer

A transfer of R96 000 from the deferred tax account

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A company's financial statements for the year to 30 June 2021 show a pre-tax pro...

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