Page 226 - F2 Integrated Workbook STUDENT 2019
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Chapter 9
Example 9.3
Bart Limited has incurred losses available of $300,000. It has prepared budgets
suggesting they will earn profits of $75,000 per annum for the next three years
after which point no further carry forward of the losses will be permitted.
The current corporate income tax rate is 30%.
Required:
Prepare the journal entry to record the deferred tax arising on the losses.
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