Low1 Ltd is a wholly-owned subsidiary of High1 Ltd. Both companies are UK resident and prepare accounts
Question:
Low1 Ltd is a wholly-owned subsidiary of High1 Ltd. Both companies are UK resident and prepare accounts to 31 March each year. Results for the year to 31 March 2021 are:
Show how the trading loss sustained by Low1 Ltd may be relieved.
Transcribed Image Text:
Trading profit/(loss) Chargeable gains Gift Aid donations High1 Ltd 100,000 5,000 12,000 Low1 Ltd (180,000) 75,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
High1 Ltd has taxable total profits of 93000 100000 5000 12000 This s...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Low1 Ltd is a wholly -owned subsidiary of High 1 Ltd. Both companies are UK resident and prepare accounts to 31 March each year. Results for the year to 31 March 2018 are: High1 Ltd Low1 Ltd...
-
Bassnote Ltd is a wholly -owned subsidiary of Apexine Ltd. Both companies are UK resident and prepare accounts to 31 March each year . The results for the year to 31 March 2018 are as follows:...
-
Basenote Ltd is a wholly-owned subsidiary of Apexine Ltd. Both companies are UK resident and prepare accounts to 31 March each year. Results for the year to 31 March 2021 are as follows: Calculate...
-
To compute trend percents the analyst should: A. Select a base period, assign each item in the base period statement a weight of 100%, and then express financial numbers from other periods as a...
-
All of your hard work and relentless efforts have paid off! Your company is doing better than expected. In fact, you will be meeting next month with and presenting to a group of investors to secure...
-
Particle A carrying a \(4.0-\mu \mathrm{C}\) charge is located at \(y=3.0 \mathrm{~m}\) on the \(y\) axis of an \(x y\) coordinate system, and particle B carrying a \(6.0-\mu \mathrm{C}\) charge is...
-
In an article, Scott Wolla of the Federal Reserve Bank of St. Louis writes that potential GDP doesnt mean that the the entire working-age population is working 18 hours per day or that factories are...
-
Use the CAFR information for the City of Salem (Illustrations 22 through 216) to find the following items. In your answer, both indicate which financial statement contained the information and the...
-
1.XYZ Corp. just paid an annual dividend of $3 per share on its common stock. This dividend is expected to grow at a 10 percent annual rate for two years, after which it is expected to grow at a 6...
-
S1 Ltd and S2 Ltd belong to the same capital gains group. In May 2017, S1 Ltd transferred a chargeable asset to S2 Ltd. The original cost of this asset to S1 Ltd was 10,000 and its market value in...
-
A company which has seven 51% subsidiaries has taxable total profits of 140,000 for the year to 31 May 2020. Dividends received in the year were 50,000. Calculate the corporation tax liability for...
-
For a two-level system where v = 1.50 10 13 s 1 , determine the temperature at which the internal energy is equal to 0.25 Nh, or 1/2 the limiting value of 0.50 Nh.
-
An Oil Company has 18 oil wells. The output of these wells has been recorded in terms of the number of barrels pumped per day, as follows; 80 25 10 23 70 19 30 40 25 34 34 45 70 50 20 12 70 50 67 a)...
-
A system has a 3 ring security model. Ring 0 is used for a hypervisor, HV, managing virtual machines, Ring 1 is used for the O/S kernel of any of the virtual machines running, and Ring 2 is used by...
-
analyze the cash flow statement of the company. (Use a spreadsheet with relative and absolute reference to calculate the statement). Present the statement of cash flow using the indirect method for...
-
(10pts) Given T: R P(R) that is defined by T(a,b,c) = (a+b+c) + (a-b+c)x+ ar Determine if T is invertible and find T-1 if it exist. (Show all row operations when finding the inverse!)
-
Allen purchased a trademark on January 1 of last year for $150,000. On January 1 of this year, Allen sold the trademark for $200,000. How much of Allen's gain on the sale of the trademark is Sec....
-
What sections of the UCC does the court look at?
-
a. What is the cost of borrowing if Amarjit borrows $28 500 and repays it over a four-year period? b. How many shares of each stock would he get if he used the $28 500 and invested equally in all...
-
A private company's share capital consists of 5,000 ordinary shares, held as follows: Is the company a close company? Sejanus (a manager) Claudius (a director) Agrippa (a director) Cleopatra (a...
-
Andrew Pearson is a shareholder of APP Nottingham Ltd. Which of the following (if any) are his associates when deciding whether the company is a close company? (a) his sister (d) his father (b) his...
-
A company has the following results for the four years to 31 March 2023: Calculate the total repayment of corporation tax (with interest) to which the company is entitled, assuming that: (a) all...
-
A part is loaded such that the stresses at a point are given by = 17 ksi y T = 10 ksi xy What is the minimum principal stress, 3, for this stress state in ksi to one decimal place? -4.6 Given Answer:...
-
An action-movie hero (95.0 kg) steps off a 8.0 m high balcony, swinging on a rope tied to an overhead beam, to scoop up the action-movie heroine (54.0 kg) from the floor below thus evading some...
-
A combustion gas mixture of oxygen and hydrogen at 3466 K and 10.34 MPa (1500 psi) has the composition shown in the table below. The figure below shows that expanding these gases to an exit pressure...
Study smarter with the SolutionInn App