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22:51 elearning kca.ac.ke KA ASSIGNMENT ONE ACC 3103/CFM 300: ADVANCED TAXATION The management of Matunda Matamu Limited has presented the following trading and profit and
22:51 elearning kca.ac.ke KA ASSIGNMENT ONE ACC 3103/CFM 300: ADVANCED TAXATION The management of Matunda Matamu Limited has presented the following trading and profit and loss account for the year ended 31 December 2019: Ksh TESCO DO Sales Lesce of sale Punch Cotopadu wyle for sale Cher Kiro Other 4.290.00 SO DO 2.000.000.000 130.00 00 Internal Die de in echipacios 1000 IT GO 3500 430.00 Kidwill Lalian Sales Badde NSSF Kiener 000 000 Sulmeli Travel Donec hoparty Da en los nuk Bena 10.00 400 45.00 150.00 Du for bad and B 10 4,100.00 1. The closing stock on 31 December 2019 was valued at a cost plus a mark up of twenty per cent. Legal expe sh Properties of the Moon Cowoce porches of land Rewal of synow 0,00 Salar pairs 100,000 2 Sales de Xere allowed Chimits to all Cenandatang de 73.00 0.000 3. Hadde de Luanto 200.000 UTRO 25.00 4200 2,000.00 500.00 Kioodwill Lorales penis Salanes Baddebis NSSF contributi General expen Advertiser Samas Travellingtu Donations to de roperty rates Depreciation elect online interest bank overdran lavne pre Kost of toles stock Provision for bad and coll dels Branch clowreel DO 100.00 19000 10.00 0.00 45.00 150.00 300.00 20.00 124.00 00 200.00 100005314 1000 1. The closing stock on 31 December 2019 was valued at a cost plus a mark up of twenty per cent. Legal pes do Preparation of the Moments of Association 190.000 Conveyance fees on purchase of 0.000 Renewal of years 90,000 Selling med utes 100,000 Acquisition of a bank loan 30,000 2. Sales experts includes Directors allow 730000 Christmas gifts to stall Golden Shake to a reti decor.000 Blad debts included Low to direct 200,000 Estimated definitely wade 20.000 4. Advertising expense includes Ksh. 100,000 for a neon sign 5. Twenty per cent of the travelling expenses relate to the private usage of company motor vehicles. 6. Capital allowances were agreed with the revenue authority at Ksh. 200,000 Required a. Adjusted taxable profit or loss for Matunda Matamu Limited for the year ended 31 December 2019, b. The tax payable by Matunda Matamu Limited (if any) for the year ended 31 December 2019 c. Determine the dates when tax computed in (b) above is payable given that the taxable profits for the year ended 31 December 2018 was sh.3,200,000 Open in... 22:51 elearning kca.ac.ke KA ASSIGNMENT ONE ACC 3103/CFM 300: ADVANCED TAXATION The management of Matunda Matamu Limited has presented the following trading and profit and loss account for the year ended 31 December 2019: Ksh TESCO DO Sales Lesce of sale Punch Cotopadu wyle for sale Cher Kiro Other 4.290.00 SO DO 2.000.000.000 130.00 00 Internal Die de in echipacios 1000 IT GO 3500 430.00 Kidwill Lalian Sales Badde NSSF Kiener 000 000 Sulmeli Travel Donec hoparty Da en los nuk Bena 10.00 400 45.00 150.00 Du for bad and B 10 4,100.00 1. The closing stock on 31 December 2019 was valued at a cost plus a mark up of twenty per cent. Legal expe sh Properties of the Moon Cowoce porches of land Rewal of synow 0,00 Salar pairs 100,000 2 Sales de Xere allowed Chimits to all Cenandatang de 73.00 0.000 3. Hadde de Luanto 200.000 UTRO 25.00 4200 2,000.00 500.00 Kioodwill Lorales penis Salanes Baddebis NSSF contributi General expen Advertiser Samas Travellingtu Donations to de roperty rates Depreciation elect online interest bank overdran lavne pre Kost of toles stock Provision for bad and coll dels Branch clowreel DO 100.00 19000 10.00 0.00 45.00 150.00 300.00 20.00 124.00 00 200.00 100005314 1000 1. The closing stock on 31 December 2019 was valued at a cost plus a mark up of twenty per cent. Legal pes do Preparation of the Moments of Association 190.000 Conveyance fees on purchase of 0.000 Renewal of years 90,000 Selling med utes 100,000 Acquisition of a bank loan 30,000 2. Sales experts includes Directors allow 730000 Christmas gifts to stall Golden Shake to a reti decor.000 Blad debts included Low to direct 200,000 Estimated definitely wade 20.000 4. Advertising expense includes Ksh. 100,000 for a neon sign 5. Twenty per cent of the travelling expenses relate to the private usage of company motor vehicles. 6. Capital allowances were agreed with the revenue authority at Ksh. 200,000 Required a. Adjusted taxable profit or loss for Matunda Matamu Limited for the year ended 31 December 2019, b. The tax payable by Matunda Matamu Limited (if any) for the year ended 31 December 2019 c. Determine the dates when tax computed in (b) above is payable given that the taxable profits for the year ended 31 December 2018 was sh.3,200,000 Open in
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