The accounting year-end for Flowers Ltd. is on 30th June. On 30th June 2020, the accountant...

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The accounting year-end for Flowers Ltd. is on 30th June. On 30th June 2020, the accountant of Flowers Ltd. provides the following balances for some accounts: revenue from sales is £118, 000 and revenue from services is £2, 000; the inventory on 30th June 2019 is £46, 200. Total purchases for the period amount to £2, 000 and the inventory on 30th June 2020 is £3, 000. The salary expenses are £5, 400 and water expense is £2, 000. The corporate tax rate is 19%. Considering this information, which of the following statements is true? a. On 30th June 2020, Flowers Ltd. will have a gross profit of £67, 400 and taxation expense equal to £12, 806. O b. On 30th June 2020, Flowers Ltd. will have an operating profit of £54, 594 and gross profit equal to £74, 800. O . On 30th June 2020, Flowers Ltd. will have a gross profit of £74, 800 and tax expense equals £ 12, 806. O d. None of the answers is true. The accounting year-end for Flowers Ltd. is on 30th June. On 30th June 2020, the accountant of Flowers Ltd. provides the following balances for some accounts: revenue from sales is £118, 000 and revenue from services is £2, 000; the inventory on 30th June 2019 is £46, 200. Total purchases for the period amount to £2, 000 and the inventory on 30th June 2020 is £3, 000. The salary expenses are £5, 400 and water expense is £2, 000. The corporate tax rate is 19%. Considering this information, which of the following statements is true? a. On 30th June 2020, Flowers Ltd. will have a gross profit of £67, 400 and taxation expense equal to £12, 806. O b. On 30th June 2020, Flowers Ltd. will have an operating profit of £54, 594 and gross profit equal to £74, 800. O . On 30th June 2020, Flowers Ltd. will have a gross profit of £74, 800 and tax expense equals £ 12, 806. O d. None of the answers is true.

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solo The option C is true comon Gnoss profi... View the full answer