Phillip starts trading on 1 June 2017 and ceases trading on 31 July 2022. He has adjusted
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Phillip starts trading on 1 June 2017 and ceases trading on 31 July 2022. He has adjusted trading profits as follows.
Compute Phillip's trading income for all tax years.
Transcribed Image Text:
1 June 2017 to 30 September 2018 year to 30 September 2019 year to 30 September 2020 year to 30 September 2021 1 October 2021 to 31 July 2022 28,800 19,900 14,300 13,800 11,100
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To compute Phillips trading income for all tax years we need a clear understanding of the tax year dates and how they apply to the accounting periods ...View the full answer
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