6 Pages 1632 Words Corporate Accounting


There was no compensation of set and equipment during the year.
The assessment objurgate as at 30 June 2018 and 30 June 2019 was 30 per cent
Required:
a) Calculate the total of each of ShouldBeMyOwnWork Ltd’s transient differences, if
any, at 30 June 2018, and narrate whether it is deductible or assessmentable
b) What is the counteract of the extended assessment jurisdiction and extended assessment asset, if any, as at 30 June 2018?
c) Calculate ShouldBeMyOwnWork Ltd’s assessmentable allowance restraint the year consequence 30 June 2019.
d) Prepare narrative entries to chronicles general assessment and extended assessment restraint the year consequence 30 June
2019.
Question 2: (Marks 10)
In accounting restraint employee benefits wherein subordinate their curtail with employers, employees
can hold several restraintms of benefits in recompense restraint their services. Such benefits earn usually
result to memory of expenses by the employer, and if referable compensated as at the object of the
reporting date, becomes liabilities from the perspective of the employer.
If the services of the employees are used to geneobjurgate items that are expected to procure future
economic benefits — restraint specimen, employees geneobjurgate Inventories in the restraintm of WIP (work
in proceeding) — then totals compensated or payable to employees may be considered to be part of the
cost of the appertaining effects.
Required: Aside from the preceding Inventories, illustobjurgate or define other
scenarios you can purpose of when would payments made to employees can be considered to be
an Asset? Procure practicable narrative entries, if needed. Maximum 200 expression.

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