Question: On 1 April 2015, the company rate of income tax changed from 35 % to 30%. At the previous reporting date (30 June 2014) Monty Limited had the following tax balances.
Deferred tax assets $28300
Deferred tax liabilities$17200
What is the related adjusting entry to show the tax rate change on income tax expense?
Feeling Stressed With Assignments? Get Income Tax Expense Assignment Help and Secure A++, without putting your hands into the tedious job of assignment writing.
Tags: Income Tax Expense Assignment Help, Income Tax Expense Homework Help, Income Tax Expense Coursework, Income Tax Expense Solved Assignments