Petra is a sole trader and prepares accounts to 3 1 March each year. In the year

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Petra is a sole trader and prepares accounts to

31

March each year. In the year ended

31

March

2024

she took goods for her own use costing

5899 .

Her normal gross profit percentage is

20 % .

Petra accounted for these goods at cost

.

What adjustment needs to be made to Petra

s profit per accounts in respect of these items to arrive at taxable trading profit?

Related Book For answer-question

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

ISBN: 978-1337614689

9th edition

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

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Posted Date: Mar 17, 2024 07:48 AM

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Petra is a sole trader and prepares accounts to 3 1 March each year. In the year

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To arrive at taxable trading profit an adjustment needs to be made to Petras ... View the full answer

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

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