Question 27 The following information relates to Bridgeport Inc.: At July 1, 201

Question

Question 27 The following information relates to Bridgeport Inc.: At July 1, 2016 At June 30, 2017 Temporary difference, giving rise to future taxable amounts Temporary difference, giving rise to future deductible amounts $82,000 34,000 $159,000 84,000 Accounting income for the year ended June 30, 2017 was $128,000. No permanent differences existed during the fiscal year. The company was expected to operate profitably in the future. The tax rate was 17% for the current and future years. Bridgeport Inc. follows IFRS. Calculate the amount of taxable income for 2017. Taxable income, 2017$ By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you. Jul 1 2016 Jun 30 2017 For the Year Temporary Diff, Future Taxable Amount 82000 159000 77000 Temporary Diff, Future Deductible Amount 34000 84000 50000 Accounting Income 128000 Add: Temporary Diff, Future Taxable Amount 77000 Less: Temporary Diff, Future Deductible Amount 50000 Taxable Income 155000

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.