Question: Alpha Pte Ltd has separately identified the following items in its tax computation for the year ended 31 December 2022: $ Losses from its current

Alpha Pte Ltd has separately identified the following items in its tax computation for the year ended 31 December 2022: $ Losses from its current year trading operations before accounting for non-trading operations (10,000) Non trading operations: Net rental income/(loss): Property A 12,000 Property B (6,000) Unrealised exchange loss on an interest fee loan extended to its subsidiary (2,000) What is Alpha Pte Ltd's assessable income in year of singapore assessment 2023 and what amount of losses are available for carry forward?

Step by Step Solution

★★★★★

3.44 Rating (151 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Alpha Pte Ltds Assessable Income and Loss Carry Forward Based on the information providedwe can calc... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Gardial Fisheries is considering two mutually exclusive investments. The projects' expected net cash flows are as follows: a. If each project's cost of capital is 12%, which project should be...

Explain the meaning of the terms emoluments, employments and office for the purposes of PAYE as you earn systems. 2. Explain the actual receipts basis of assessing the emoluments from the employment...

A Pte Ltd (APL) is a company incorporated and tax resident in Singapore. The principal activities of APL consist of providing video marketing and branding services to both its local and overseas...

Matt Lim is a 45-year-old Singaporean. He has been working for Micro Inc (Micro), a company tax resident in Country X for the past 10 years. Micro is listed on the Stock Exchange of Country X. To be...

Required (a) Calculate the following items of Ahmed Petroleum Company for the year ended 31 December, 2019. i Sales Revenue ii. Non - current assets iii. Finance costs iv. Current assets V. Cash at...

QUESTION 2 PART A (continued) Marks Discuss, with reasons. the appropriate accounting treatment and disclosure requirements for the matters referred to in additional information (5) in the annual...

Vitality Health Foods Ltd is a producer and retailer of fruit and vegetables based in the Western Cape. The company grows fresh fruit and vegetables on its farms from where it is picked, cleaned,...

QUESTION 1: (2) Which of the following alternatives represents the correct amount that must be disclosed as profit before tax in the cash generated from operations section according to the indirect...

QUESTION 1-44 The following information concerning Game Limited is presented to you: Game Limited is an independent producer of semi-finished and fabricated aluminum products. The directors of the...

Answer ALL questions in this paper. [100 MARKS] QUESTION 1 (20 MARKS) REQUIRED Answer the following questions based on the information provided below: 1.1 Calculate the distribution expenses for the...

In PJSB's annual general meeting on 15th May 2021, the shareholders had passed a resolution approving the appointment of Albert, Charles \& Laurence Tax Consultancy Services (ACLT) Sdn. Bhd. in...

To declare class subClass a privately derived class of superClass one would write Select one: O a. class subclass : private superClass O b. class subclass inherits private superClass class subclass

What is financial engineering? When does it create value?

Solve the following differential equation using separation of variables. c s c y d x s e c 2 x d y = 0 4 s i n y - 2 x - c o s 2 x = C 4 c o s y - 2 y - s i n x = C 4 c o s y - 2 x - s i n x = C 4 c...

1. If a product sells for $10, variable costs are $6 and fixed costs are $160,000, what would total sales have to be in order to break-even? $400,000. $240,000. $160,000. $640,000. 2. If unit sales...

Company XYZ's stock is currently trading at $22 and it is forecasted to either increase by 20% or fall by 15% in 3 months. The 3-month effective interest rate is 1.5%. Assuming there is no active...

A professional football team is preparing its budget for the next year. One component of the budget is the revenue that they can expect from ticket sales. The home venue, Dylan Stadium, has five...

You have been hired as the new Director of Internal Controls and Oversight for the Clueless Corporation, in part because you took this Fraud Examination class. Clueless produces jet engines for...

Consider the current circuit in the shape of a regular hexagon of side a. If the circuit carries the current I, find the magnetic induction at the center of the hexagon.

The Anderson Company has a net profits of $22 million, sales of $259 million, and 4.1 million shares of common stock outstanding. The company has total assets of $168 million and total stockholders'...

Ralph Pyson is auditing Merrill Manufacturing Company Ltd. Through his discussions with client personnel, reading company minutes and reviewing correspondence files, he has become aware of four legal...

A public accountant's client, Anderson Industries Pty Ltd, is a medium-sized manufacturer of products for the leisure-time activities market (camping equipment, scuba gear, archery equipment and so...

You are auditing general cash for Pitt Supply Company for the financial year ended 30 June 20X9. The client has not prepared the 30 June bank reconciliation. After a brief discussion with the owner,...

The management of White Industries is considering a new method of assembling its golf cart. The present method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time for a...

Given the following hypotheses: H0: = 100 H1: 100 A random sample of six resulted in the following values: 118, 105, 112, 119, 105, and 111. Assume a normal population. Using the .05 significance...

The liquid chlorine added to swimming pools to combat algae has a relatively short shelf life before it loses its effectiveness. Records indicate that the mean shelf life of a 5-gallon jug of...