Accounting Multiple Choice Question – 21 August 2024

Alex Ltd has a balance of £3,200 (debit) on its tax account as at 13 December 2022 relating to the tax payable on the 2021 profits.

Alex Ltd’s estimated tax liability for the year to December 2023 is £24,500.

The tax charge in the income statement for the year ended 13 December 2023 is?

Select ONE answer:

1. £21,300
2. £24,500
3. £27,700
4. £30,900

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct — > B/d £3,200 + C/d of £24,500 = £27,700
4. Not correct

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