A manufacturing company has the following results for the year to 31 March 2018: Trading income Income
Question:
A manufacturing company has the following results for the year to 31 March 2018:
Transcribed Image Text:
Trading income Income from property Bank interest (amount received) Interest on Government securities (amount received) Dividends from UK companies Chargeable gains Gift Aid donation 883,000 14,200 3,200 28,000 18,450 123,000 24,000 The following information is also relevant: (a) Bank interest of 1,100 was owing to the company at the end of the year. The corresponding amount at the start of the year was zero. (b) The Government securities were acquired on 1 July 2017. Interest of 28,000 is pay- able to the company on 30 June and 31 December each year. Compute the company's taxable total profits for the year to 31 March 2018.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Notes i The bank interest is income from a non trading loan relationship and is a...View the full answer
Answered By
Shadrack Mulunga
I am a Biochemistry by profession. However, I have explored different fields of study. My quest to explore new fields has helped me gain new knowledge and skills in Business, clinical psychology, sociology, organizational behavior and general management, and Project Management. I count my expertise in Project management, in particular, creation of Work Break Down Structure (WBS) and use of Microsoft Project software as one of my greatest achievement in Freelancing industry. I have helped thousands of BSC and MSC students to complete their projects on time and cost-effectively using the MS Project tool. Generally, I find happiness in translating my knowledge and expertise to success of my clients. So far, i have helped thousands of students to not only complete their projects in time but also receive high grades in their respective courses. Quality and timely delivery are the two key aspects that define my work. All those who hired my services always come back for my service. If you hire my services today, you will surely return for more. Try me today!
5.00+
154+ Reviews
289+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A company has the following results for the year to 31 March 2018: The company intends to make Gift Aid donations of 30,000 every six months, starting on 30 November 2017. (a) Compute the company's...
-
You work for firm XYZ situated in the United States, and your boss has become concerned about the current economic environment, especially as it is related to the different types of exposures that...
-
A company has the following results for the year to 31 March 2018: Trading profits, after capital allowances Bank deposit interest (account opened 1 April 2017): Received 30 June 2017 Received 31...
-
What are decision support systems, and what role do they play in the business environment?
-
Write structural formulas for each of the following alcohols and alkyl halides: (a) Cyclobutanol (e) 2,6-Dichloro-4-methyl-4-octanol (b) sec-Butyl alcohol (f) trans-4-tert-Butylcyclohexanol (c)...
-
There is an alternative way of implementing Dijkstras algorithm that avoids use of the locator pattern but increases the space used for the priority queue, Q, from O(n) to O(m) for a weighted graph,...
-
Let us consider three consecutive flips of a fair and memoryless coin. There are two outcomes H and T for each flip, and eight possible scenarios: we deal with an algebra including events W = (H, H,...
-
In 2013, Manhoff Company had a break-even point of $350,000 based on a selling price of $5 per unit and fixed costs of $112,000. In 2014, the selling price and the variable costs per unit did not...
-
1.Assume that the firm's market value of equity, S, is a call option written on the market value of the firm, V, with exercise price equal to the face value of the firm's risky debt, D. The debt is a...
-
A company produces the following income statement for the year to 31 March 2018: Notes: 1. The pr operty was let on 1 January 2018 at a rent of 20,000 per annum, payable annually in advance. The...
-
In 2010, Shaun bought 20% of the ordinary shares of an unlisted trading company. The shares cost 140,000. He owned the shares until January 2018 when he gave all the shares to a friend. On the date...
-
Genetic disease: Sickle-cell anemia is a disease that results when a person has two copies of a certain recessive gene. People with one copy of the gene are called carriers. Carriers do not have the...
-
Your main annual costs for your project are as follows: Budget Item Cost Notes Director $70,000 Health Educator 1 $40,000 Health Educator 2 $40,000 Hourly nurse for community screenings $9,600 Test...
-
A spring has an original length of 20 cm. When a load of 300 g is applied to the spring, it produces an extension of 50 mm without exceeding the elastic limit of the spring. When a load of 240 g is...
-
Most atoms happen to be about 1 Angstrom or 108 cm in radius, and typical nuclei are about 1013 cm in radius (actually, larger nuclei are somewhat larger, but we will ignore this complication)....
-
Capillary electrophoresis ( CE ) is notable for extremely narrow peak widths. What features of CE allow for these narrow peak widths? What are the advantages of narrow peaks?
-
Benfer Corporation's budgeA company's beginning income tax liability plus its budgeted income tax minus its budgeted income tax for the period equals its budgeted ending income tax liability ted...
-
In Figure, the pendulum consists of a uniform disk with radius r = 10.0 cm and mass 500 g attached to a uniform rod with length L = 500 mm and mass 270 g. (a) Calculate the rotational inertia of the...
-
Why is it important to understand the macro-environment when making decisions about an international retail venture?
-
Dorothy's income tax and Class 4 NICs liability for 2019-20 was 24,600, of which 600 was deducted at source. Her liability for 2020-21 is 28,000, of which none is deducted at source. She made a first...
-
For each of the following taxpayers, state the dates on which the 2020-21 income tax is due to be paid and calculate the amount payable on each date. (Ignore Class 4 NICs). (a) Guy's 2019-20 income...
-
Barbara (see Examples 2 and 3 above) pays all of her late payment penalties on 4 March 2023. Calculate the total interest payable by Barbara in relation to her income tax and Class 4 NICs for...
-
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Direct materials Direct labor Variable overhead 7.1 ounces 0.8 hours Standard Cost Standard Price...
-
What is the value of egg_count after running this code? egg_count = 0 def buy_eggs(): egg_count += 12 buy_eggs()
-
Give me the references for these points: Time Convenience: Time convenience refers to the ability of hotels to offer time-saving services and minimize guest effort. In Selangor, hotels can provide...
Study smarter with the SolutionInn App