What is deferred tax asset? Post category:Accountancy Reading time:1 mins read SOLUTION A deferred tax asset arises when Accounting Income is less than Taxable income. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat do you understand by the term deferred tax? Next PostWhat is deferred tax liability? You Might Also Like If Operating Cycle is 12 months and payment is received in 15 months, how will you classify the asset? September 30, 2022 Prepare Cash Flow Statement from the following: August 20, 2022 A and B are partners sharing profits in the ratio of 3: 2 with capitals of Rs. 50,000 and Rs. 30,000 respectively. Interest on capital is agreed @ 6% p.a. B is to be allowed an annual salary of Rs. 2,500. During the year profit prior to interest on capital but after charging B’s salary amounted to Rs. 12,500. A provision of 5% of the profits is to be made in respect of Manager’s Commission. July 21, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
If Operating Cycle is 12 months and payment is received in 15 months, how will you classify the asset? September 30, 2022
A and B are partners sharing profits in the ratio of 3: 2 with capitals of Rs. 50,000 and Rs. 30,000 respectively. Interest on capital is agreed @ 6% p.a. B is to be allowed an annual salary of Rs. 2,500. During the year profit prior to interest on capital but after charging B’s salary amounted to Rs. 12,500. A provision of 5% of the profits is to be made in respect of Manager’s Commission. July 21, 2022