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Accounting policy -Property, plant and equipment are carried under the cost model. Applicable tax rate is 32%
Required
(a) Calculate the income tax payable for the year ended 31 December 2020 (15)
(b) Calculate the deferred tax balance and movement for Nakwayarta for the yea ended 31 December 2020. Make use of the statement of financial positior approach. Prepare the journal entry to account for the movement in deferred ta) balance (10)
10
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