Accounts: Tax Calculation, Deferred Tax Worksheet, Goodwill Treatment, Events After Accounting Period

Accounts

Table of Contents
QUESTION 1...................................................................................................................................3
1. Analyse the data given and provide the tax calculation for the values..............................3
2. Prepare the current tax worksheet and calculate the tax liability for the year 2042...........3
3. Prepare the deferred tax worksheet and calculate the movement in deferred tax for the year
2042........................................................................................................................................3
4. Give the journal entries which arise from the tax worksheets............................................4
5. Explain the item that have arise from the Journal entries which will be recorded in the
financial statements................................................................................................................4
Describe the treatment of Goodwill according to AASB 112................................................4
Question 2 .......................................................................................................................................5
1. Discussion related to Events after accounting period and whether the two issues are
considered adjusting or non-adjusting events. .......................................................................5
2. How will the first issue be treated in the business .............................................................5
3. How will the second issue be treated or what are the disclosure requirements of the same. .6
REFERENCES................................................................................................................................7