In$ In$ 2011 DTA DTL DTA DTL
In$ In$ 2011 DTA DTL DTA DTL
In $
2012
DTL
DTA
DTL
20
4
16
15
15
20
5
3
3
34
40
18
9
6(DTL)
9(DTA)
2.4
3.6
2011
DTA
Depreciation
warranty
merchandise
magzine subscription
compensation
Total
Net
TAX 40%
Less:-
Statement of Income
Particulars
2011
profit as per financial
100
other income
1
Total
101
Tax Expense
current Tax
32
Deferred Tax
Asset/Liablities
profit after tax
2.4
66.6
In $
2012
100
1
101
38.4
-3.6
66.2
Add:Less:Add:Less:Less:Add:Add:-
Note*
Journal entries
Profit & loss A/c
DR
DTL
CR
(being DTL created)
DTL A/C
DR
2011 Note
2.4
2.4
In balance sheet it will r
2012
2.4
2.4
ady recognised as
er year will reduce
tly reduce the tax
the deferred tax