SECTION A (21 marks) Answer ALL questions from this section, Question 1015 marks Rant for office promises Rent for Mr Chan's residence Rates for office premises Rates for Property A Rates for Property (100 Noto) 120,000 290.000 18,000 3,000 4,000 420.000 110.000 170,000 Impairment loss Trade debts written off 100.000 General debt bf Loan to staff written off 80,000 SCI General debt of 120,000 280.000 General debt is based on 3% of debtors. 280.000 90,000 250.000 FB Lid is a whole of stationery in Hong Kong. It make up its accounts to 31 March annyit to time the director, Me Chan and Mr Lotto stamant of comprehensive income for the year ended 31 March 2012 was follows: Gross proft 3,578,000 Didende) 30,000 Rent Income Noteb) 210,000 Compensation received (Notee) 70.000 0,016,000 Los Directorio (Noted 1.800.000 Salaries and slowano 3.200,000 Annual contributions to MPF scheme Note) 508,000 Rent & rat (Note 433,000 Auditor's pimentiom Notes 170,000 Bankerot Notes 480,000 Motor vehicle expenses (Note) 130,000 Repair (Note 520.000 Donation (N) 350,000 Overseas travel (Note 100.000 Entertainment 220.000 Water and letih 30.000 Depreciation 170,000 Printing & stationery 30.000 General expenses Motom 000.000 8.11.000 Netpro 71.000 Notes: ) Dividend from the company's subsidiary in Hong Kong b) Property Ain Hong Kong 100,000 60.000 Property in Mainland China 2009 cl Compensation for loss of motor vehicle 50,000 Compensation for one of trading stock 20,000 Mortgage loan interest to a local bank. The loan is used to finance the purchase of Property C. It is secured by Property C(no Noten). Bank overdraf interest on company's current count. The overdraft is secured by director's personal guarantee Interest on loan from Mr Chan Fine Cwparing foros Petroleum 200,000 30,000 400.000 9,000 80,000 41.000 130.092 200,000 300,000 20,000 520.000 Renovation expenditure on office promises Decoration of Property Co Noon) Repair of motor vehicles Canh donations to various charitable organisations Business tripo Overseas tips for staff of the company 30,000 70.000 100.00 Mr Can Mr. 1.200,000 600,000 160.00 (0) Contribution in repect of Mr Chan (20% on verton Mr Lee (18% onomunion) Other employees on remon) (m) All general expenses are allowable It is agreed that the depreciation allowance for the year of met 2011/12 is 570,000 Based on the above Information, compute the profits tax payable by FB Lid for the year of soment 2011/12. Ignore provisional profita tax. All workinge must be shown 210,000 100,000 100.000 3.RO SECTION A (21 marks) Answer ALL questions from this section, Question 1015 marks Rant for office promises Rent for Mr Chan's residence Rates for office premises Rates for Property A Rates for Property (100 Noto) 120,000 290.000 18,000 3,000 4,000 420.000 110.000 170,000 Impairment loss Trade debts written off 100.000 General debt bf Loan to staff written off 80,000 SCI General debt of 120,000 280.000 General debt is based on 3% of debtors. 280.000 90,000 250.000 FB Lid is a whole of stationery in Hong Kong. It make up its accounts to 31 March annyit to time the director, Me Chan and Mr Lotto stamant of comprehensive income for the year ended 31 March 2012 was follows: Gross proft 3,578,000 Didende) 30,000 Rent Income Noteb) 210,000 Compensation received (Notee) 70.000 0,016,000 Los Directorio (Noted 1.800.000 Salaries and slowano 3.200,000 Annual contributions to MPF scheme Note) 508,000 Rent & rat (Note 433,000 Auditor's pimentiom Notes 170,000 Bankerot Notes 480,000 Motor vehicle expenses (Note) 130,000 Repair (Note 520.000 Donation (N) 350,000 Overseas travel (Note 100.000 Entertainment 220.000 Water and letih 30.000 Depreciation 170,000 Printing & stationery 30.000 General expenses Motom 000.000 8.11.000 Netpro 71.000 Notes: ) Dividend from the company's subsidiary in Hong Kong b) Property Ain Hong Kong 100,000 60.000 Property in Mainland China 2009 cl Compensation for loss of motor vehicle 50,000 Compensation for one of trading stock 20,000 Mortgage loan interest to a local bank. The loan is used to finance the purchase of Property C. It is secured by Property C(no Noten). Bank overdraf interest on company's current count. The overdraft is secured by director's personal guarantee Interest on loan from Mr Chan Fine Cwparing foros Petroleum 200,000 30,000 400.000 9,000 80,000 41.000 130.092 200,000 300,000 20,000 520.000 Renovation expenditure on office promises Decoration of Property Co Noon) Repair of motor vehicles Canh donations to various charitable organisations Business tripo Overseas tips for staff of the company 30,000 70.000 100.00 Mr Can Mr. 1.200,000 600,000 160.00 (0) Contribution in repect of Mr Chan (20% on verton Mr Lee (18% onomunion) Other employees on remon) (m) All general expenses are allowable It is agreed that the depreciation allowance for the year of met 2011/12 is 570,000 Based on the above Information, compute the profits tax payable by FB Lid for the year of soment 2011/12. Ignore provisional profita tax. All workinge must be shown 210,000 100,000 100.000 3.RO