Q2. J&K Agro processing company Ltd. Commenced business at Nsawam in the Eastern Region on 1st...

 

Transcribed Image Text:

Q2. J&K Agro processing company Ltd. Commenced business at Nsawam in the Eastern Region on 1st January 2014. The company processes all kinds of fruits into drinks for majorit being export and about 20% for local markets. The company got incorporated on 3rd Novemb 2013. It acquired the following assets for use in the business: i. Factory building was completed on 2nd November 2013at a cost of GH1 Million Plants and machinery was installed on 3rd January 2014 at a cost of GH550,000 ii Computers and other office equipment were also acquired at a cost of GH150,000 The company declared the following results: Year Income GH Y/e 31/12/2014 Y/e 31/12/2015 (45,000.00) 150,000.00 Required: Compute the company's tax liabilities for all relevant years. Q2. J&K Agro processing company Ltd. Commenced business at Nsawam in the Eastern Region on 1st January 2014. The company processes all kinds of fruits into drinks for majorit being export and about 20% for local markets. The company got incorporated on 3rd Novemb 2013. It acquired the following assets for use in the business: i. Factory building was completed on 2nd November 2013at a cost of GH1 Million Plants and machinery was installed on 3rd January 2014 at a cost of GH550,000 ii Computers and other office equipment were also acquired at a cost of GH150,000 The company declared the following results: Year Income GH Y/e 31/12/2014 Y/e 31/12/2015 (45,000.00) 150,000.00 Required: Compute the company's tax liabilities for all relevant years.

Answer rating: 100% (QA)

To compute the tax liabilities for J K Agro Processing Company Ltd for the relevant years we need to ... View the full answer