SRU Company is preparing its accounts for the year ended on 31st December, 2013. It has income
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Question:
SRU Company is preparing its accounts for the year ended on 31st December, 2013. It has income from various sources and made some payments as shown below:
Items | Amount (£) |
Rent revenue from a building located in Muscat | 15,000 |
Dividends from a Germany company (non-associated companies) | 19,500 |
Income from operations | 350,000 |
Gain on the sale of a warehouse | 10,000 |
Bank Deposit Interest | 1,500 |
Dividends from a UK co. (non-associated companies) | 4,500 |
Loan note interest from a UK co. | 17,000 |
Gift Aid Donation | 6,000 |
Dividends paid to shareholders (dividends payment is excluded from TTP) | 7,000 |
Instruction:
Calculate the total taxable income for the company and tax liability.
Related Book For
Accounting Business Reporting for Decision Making
ISBN: 9780730302414
4th edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
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