QUESTION7.5 (Disposalsnotintheordinarycourseofbusiness) Ben Rawiller,a residenttaxpayeroperatesan electricalgoodsstore. Duringthe 2021/22 tax year, Ben had the followingtransactions: Sales $2,927,800 PurchasesofTradingStock

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QUESTION7.5 (Disposalsnotintheordinarycourseofbusiness)

Ben Rawiller,a residenttaxpayeroperatesan electricalgoodsstore. Duringthe 2021/22 tax year, Ben had the followingtransactions:

Sales	$2,927,800
PurchasesofTradingStock	1,385,680
Stock 1July2020	458,470
Stock30June2021(cost)	4O1,8OO
Stockdonatedtoregisteredcharitiesatmarketvalue (deductible)	49,300
Otherdeductibleexpenses	582,370
Tradingstockdestroyedduetofloodinginstore	83,490

Usingtheabovedata,calculateBen'staxableincomefor2021/22.

Posted Date: May 18, 2024 11:03 AM

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QUESTION7.5 (Disposalsnotintheordinarycourseofbusiness) Ben Rawiller,a residenttaxpayeroperatesan electricalgoodsstore. Duringthe 2021/22 tax year, Ben had the followingtransactions: Sales $2,927,800 PurchasesofTradingStock

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