Gross profit of dollars 250 million for the year 2020/2021. given the following information. ASSET REGISTER AS
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Question:
Gross profit of dollars 250 million for the year 2020/2021. given the following information.
ASSET REGISTER AS AT 01 July 2020
Furniture 1,200,000
computer 1 300,000
computer 2 800,000
during the year, the 1st computer was sold off and a new one bought at 2,000,000. it also bought a second hand pick up at 5000,000
a) calculate the tax paid in the financial year 2020/2021
b) how would the following scenarios be treated
(i) supplied spare tyres worth USD 5,000 in the same year
(ii) calculate it's overall profit around the world was USD 1 Million
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
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