Calculate the taxable profits, Accounting Basics

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Calculate the taxable profits

Profit before tax is sh.800000 which includes sh.500000 grant that is not taxable and sh.20000 of expenses allowable for tax purposes.depreciation for p&l account amount to sh.120000 but was to be replaced by capital allowances of sh.150000. Tax rate for profits is 30%. calculate the taxable profits.

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Accounting Basics: Calculate the taxable profits

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Accounting Basics: Calculate the taxable profits

Reference No:- TGS079368

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What amount should welz company pay

Q : Record the collection from the 2011 tax levies

Q : Calculate the cost of goods sold using the fifo

Q : Compute dow''s earnings per share for the year

Q : Calculate the taxable profits

Q : Determine the total compensation cost

Q : Estimate the demand function

Q : Entry to record the transaction

Q : Where queuing models can be applied

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Calculate the taxable profits

Reference No:- TGS079368

Recent Questions Asked Accounting Basics

Q : What amount should welz company pay

Q : Record the collection from the 2011 tax levies

Q : Calculate the cost of goods sold using the fifo

Q : Compute dow''s earnings per share for the year

Q : Calculate the taxable profits

Q : Determine the total compensation cost

Q : Estimate the demand function

Q : Entry to record the transaction

Q : Where queuing models can be applied

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