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Question · Uncertain tax treatments: measure and reassess

At the end of 20X5, Wenlandor had recognised a current tax liability of 250,000 for a deduction whose acceptance was not probable. In September 20X6, after an audit, the authority notifies it in writing that it agrees with this deduction. Record the 20X6 entry.

Current tax liability no longer required
250,000
Your answer
  1. Line 1

    Account Current tax liability

  2. Line 2

    Account Current tax income

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