From the information provided, calculate the corporation tax for 2021 and 2022, and the corporation tax...

 

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From the information provided, calculate the corporation tax for 2021 and 2022, and the corporation tax payable for 2022. 2021 I $ 200,000 10,000 12,000 1,800 200 1,700 Profit before tax Depreciation Annual allowance Balancing allowance Donations not allowed Entertainment expense not allowed Corporation tax paid 30,000 2022 $ 286,000 8,000 9,800 500 The company's Statement of Comprehensive Income reflected a net loss for 2020 amounting to $300,000. The net loss was incurred due to the lockdowns during the COVOD-19 pandemic. The net loss adjusted for taxation purposes for 2020 amounted to $260,000. The corporation tax rate in 2021 was 35% and 30% in 2022. From the information provided, calculate the corporation tax for 2021 and 2022, and the corporation tax payable for 2022. 2021 I $ 200,000 10,000 12,000 1,800 200 1,700 Profit before tax Depreciation Annual allowance Balancing allowance Donations not allowed Entertainment expense not allowed Corporation tax paid 30,000 2022 $ 286,000 8,000 9,800 500 The company's Statement of Comprehensive Income reflected a net loss for 2020 amounting to $300,000. The net loss was incurred due to the lockdowns during the COVOD-19 pandemic. The net loss adjusted for taxation purposes for 2020 amounted to $260,000. The corporation tax rate in 2021 was 35% and 30% in 2022.

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