To correct a provision of 100,000 omitted in 2023, Silbane reduces its opening retained earnings by 100,000. The expense will be deductible when paid and the deferred tax asset is recoverable at a rate of 25% (case data). What is the error?
To correct a provision of 100,000 omitted in 2023, Silbane reduces its opening retained earnings by 100,000. The expense will be deductible when paid and the deferred tax asset is recoverable at a rate of 25% (case data). What is the error?