The Alberta Mining and Export Corporation (AMEC) has operations at several locations throughout the province...

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Accounting

The Alberta Mining and Export Corporation (AMEC) has operations at several locations throughout the province of Alberta in Western Canada. AMEC reports under IFRS as a publicly traded company. AMEC reported the following financial results (all pre-tax amounts) for the years 20X6 through 20X9: AMEC has a tax rate of 40% for each of the relevant years. AMEC claimed the following amounts as CCA on its income tax filings: 20X6: 18,00020X7:14,00020X8: 6,00020\times 9 :4,000. Note: AMEC had no deferred income tax balances at 1 January 20\times 6. Required: For each year, calculate the deferred income tax balance on the statement of financial position at the end of the year, and also net income. (Negative amounts and deductible amounts should be indicated by a minus sign.)The Alberta Mining and Export Corporation (AMEC) has operations at several locations throughout the province of Alberta in Western
Canada.
AMEC reports under IFRS as a publicly traded company.
AMEC reported the following financial results (all pre-tax amounts) for the years 20X6 through 20X9:
AMEC has a tax rate of 40% for each of the relevant years.
AMEC claimed the following amounts as CCA on its income tax filings:
20X6: $16,400
20X7: $12,400
20X8: $7,600
20X9: $4,000.
Note: AMEC had no deferred income tax balances at 1 January 206.
Required:
For each year, calculate the deferred income tax balance on the statement of financial position at the end of the year, and also net
income. (Negative amounts and deductible amounts should be indicated by a minus sign.)
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