Spectacular Profit After Tax In Balance Sheet
1000000 30000 70000.
Profit after tax in balance sheet. The bottom line of the profit and loss statement reflects net income or the amount left after subtracting total expenses from total revenue. Once the dividend is paid the remaining amount is the retained earnings. The PL will inform you whether your business made or lost money for the month under review.
Current periods figures NB may be anywhere from 1 day to 18 months. It does not affect any element of the trading profit or the profit chargeable to corporation tax. The dividend account acts as part profit and loss account and part balance sheet account.
This is an approximation of after-tax. Heres what you need to do. Company name and current year end or period end for when longershorter than a year.
If corporation tax was charged on accounting profit then they would have tax charge of 880 4400 20 as at June 2016. If any amount is expensed out in Profit Loss Ac but not deducted for Income tax purpose it will create Deferred Tax Asset. The ROA ratio specifically reveals how much after-tax profit a company generates for every one dollar of assets it holds.
The Deferred Tax Liability or Deferred Tax Asset is derived from the comparison of Profit Loss Ac of Balance sheet and Computation of Total Income for Income Tax purpose. A balance sheet reflects your companys overall financial situation at a particular moment in time. Youll pay tax on the profits for your basis period for the tax year.
However the tax computation is different. Deferred income tax liabilities can be included in. The Income Statement or Profit and Loss Report is the easiest to understand.