Ruth, Reg and Roger are in partnership sharing profits 32:38:30, after crediting Roger with a salary...

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Ruth, Reg and Roger are in partnership sharing profits 32:38:30, after crediting Roger with a salary of 3,000. Roger retired on 31 December 2021 and profits are shared equally between Ruth and Reg from that date. The adjusted profits for the year to 31 January 2022 were 174,000. Roger had overlap profits brought forward of 10,000. Calculate Roger's assessable profits for 2022/23. Ruth, Reg and Roger are in partnership sharing profits 32:38:30, after crediting Roger with a salary of 3,000. Roger retired on 31 December 2021 and profits are shared equally between Ruth and Reg from that date. The adjusted profits for the year to 31 January 2022 were 174,000. Roger had overlap profits brought forward of 10,000. Calculate Roger's assessable profits for 2022/23.

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To calculate Rogers assessable profits for 202223 we need to follow these steps 1 Determine Rogers ... View the full answer