At 30 June 2019, Barry Ltd Estimates It Will Be

question 40

Multiple Choice

At 30 June 2019, Barry Ltd estimates it will be required to pay income tax expenses of $62 000 during the following financial year. The correct journal entry to provide for this income tax estimate at 30 June 2019 is:

• A) DR Income tax expense $62 000; CR Bank $62 000
• B) DR Income tax expense $62 000; CR Retained earnings $62 000
• C) DR Income tax expense $62 000; CR Current tax liability $62 000
• D) DR Current tax liability $62 000; CR Income tax expense $62 000

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Staff Development Program

A structured process implemented by organizations to enhance the knowledge, skills, and abilities of their staff.

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An assessment of how effectively and efficiently an employee carries out their job duties and responsibilities.

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