Yutong (K) ltd which is a micro-enterprise has presented the following income particulars for the year 2022;
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Question:
Yutong (K) ltd which is a micro-enterprise has presented the following income particulars for the year “2022”;
Ksh ‘000’ | |
Sales | 7,379,600 |
Purchases | 3,193,900 |
Closing stock | 570,000 |
Interest from Loan Stocks held in Singapore | 123,120 |
Discount received | 101,650 |
Dividend from EABL (K) ltd | 509,200 |
Operating expenses –allowable | 3,496,000 |
Depreciation | 228,000 |
Finance cost | 372,400 |
Additional information:
1. The closing stock above is undervalued by 20%. The opening stock was ksh. 285,000
Required:
Calculate the taxable income for company for the year “2022”.
Related Book For
International Financial Reporting a practical guide
ISBN: 9781292439426
8th Edition
Authors: Alan Melville
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