2 2 Capital allowances on implements, plant and machinery QUESTION Alex commenced trading on 1 January 2019 The trading results, as adjusted for taxation purposes, but before capital allowances, have been as follows Jusmed alonewolls Indigen Period from 1 1 18 to 31 12 19 Period from 1 1 19 to 31 12 20 K65,000 K95,000 Transactions in non current assets have been as follows Acquisitions Date 1 1 19 Asset Motor car 31 3 19 31 12 20 000 1 Fixtures and fittings General plant Cost K12,500 K10,500 K20,000 Required Calculate the taxable profits for the first two charge years of trading

Question

2 2 Capital allowances on implements, plant and machinery QUESTION Alex commenced trading on 1 January 2019  The trading results, as adjusted for taxation purposes, but before capital allowances, have been as follows  Jusmed alonewolls Indigen Period from  1 1 18 to 31 12 19 Period from  1 1 19 to 31 12 20 K65,000 K95,000 Transactions in non current assets have been as follows  Acquisitions  Date 1 1 19 Asset Motor car 31 3 19 31 12 20 000 1 Fixtures and fittings General plant Cost K12,500 K10,500 K20,000 Required Calculate the taxable profits for the first two charge years of trading

Accepted Answer

The Answer is in the image, click to view ...

Question

2.2 Capital allowances on implements, plant and machinery QUESTION Alex commenced trading on 1 January 2019. The trading results, as adjusted for taxation purposes, but

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Accounting Tutor For Beginners Simple Approach To Understanding And Learning Accounting By Any One

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question