This company provides you with the unadjusted trial balance below but aren\'t su
ID: 2330756 • Letter: T
Question
This company provides you with the unadjusted trial balance below but aren't sure what additional information you need to prepare the provision. Examine the information below and prepare a list of additional questions you have or information you need in order to calculate current tax expense. Assume the tax return for the year ended 12/31/17 has not yet been filed, but all the supporting information for the return is available.
This company provides you with the unadjusted trial balance below but aren't sure what additional information you need to prepare the provision. Examine the information below and prepare a list of additional questions you have or information you need in order to calculate current tax expense. Assume the tax return for the year ended 12/31/17 has not yet been filed, but all the supporting information for the return is available.
Explanation / Answer
Additional information required are as follows:-
1)Advance tax paid during the year.
2)Previous year's provision for income tax.
3) income tax payable for the previous year.
4)Deferred tax liability or asset.
5)Any carried forward business loss or brought forward business loss.