The audited accounts of Wilo Ltd . for the year - end 3 1 December 2 0
Fantastic news! We've Found the answer you've been seeking!
Question:
The audited accounts of Wilo Ltd for the yearend December show a loss of $ after charging the following: $Depreciation Legal fees Donations Bad debts Foreign travel Other Information: a Legal fees are as follows: Expenses in respect of recovery of debts, $ Expenses related to the increase of share capital, $b The Bad debt expense is a percentage of debtors at yearend c The company made contributions of $ to the University of the Commonwealth Caribbean and $ to a football Club which has not registered under the Charities Act, d Foreign travel expense was a vacation package for the purchasing managers family. e Included in revenue is the item Refunds from Income Tax $f The capital allowance has been calculated at $g The company is a private company with Ordinary paid up shares of $ each $ million and Preference Shares valued at $ million. This is included in the accounting loss. h Net profit on the disposal of fixed assets during the year was $ and is included in income.i Interest payable at December was $ and at the end of the current year is $
Required:
Compute the adjusted profitloss for tax purposes and the tax liability for at
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: