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At the beginning of the year, company Y had an opening credit balance of $5,000 on its current tax account. Payments were made during the year of $7,500 and the tax due at the end of the year amounted to $25,000. A provision for deferred tax needs to be made amounting to £5,000. What is the charge to tax in the statement of profit or loss for the year? A. $25,000. B. $32,500. C. $27,500. D. $30,000. |