Oscar Ltd made an accounting profit before tax of $40,000 for the year ended 30...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Oscar Ltd made an accounting profit before tax of $40,000 for the year ended 30 June 2021. Included in the accounting profit were the following items of expense entertainment expense $8,000 and bad debts expense $14,000 Oscar Ltd wrote off $10,000 in bad debts for the year ended 30 June 2021. The company income tax rate is 30%. Oscar Ltd should record Select one: a $15,600 credit for current tax liability. O b. $12,000 credit for current tax liability Oc$13,200 debit for income tax expense. Od $18,600 debit for income tax expense
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.