3. SHOW WORKINGS WHERE NECESSARY QUESTION ONE KaDzie ventures has been in business trading dealing in a product called "Elewuuu" for several in Alakple township in the Vol Region. He presented the following statements for the year ended 31 December 2017 GH000 GH000 Sales 5.400.000 Cost of sales 2.000.000 Gross prote 3.400.000 Add Discount Received 3.440.000 Management Sales Repairs Entertainment 440,000 480,000 120,000 Donation 100,000 115,00 240,000 242.000 Legal Fees Unrealised Exchange Less Bad Debts Los on sale of Equipment Depreciation Medical Expenses Sundry Expenses 60,000 470,000 640,000 720,000 Advertising Rem Interest on Loan 150,000 800,000 180,000 4,850, 700 1.41700 KaDeie provided you with the following additional information: 1) Assume Capital Allowance of GHCI,140,000 L) GHC640,000 of the sundry expenses was used to rehabilitate the private resident of his father an 12:57 minutes ago Advertising 150,000 Rent 800,000 Interest.com 180,000 4,850,700 1.417000 K.Deie provided you with the following additional information: 1) Assume Capital Allowance of GHC 1.340,000 ) GHC640,000 of the sundry expenses was used to rehabilitate the private resident of his father 1) Bad Debts Special GHC20.000000 General GHC100,000,000 Bad Debts written off GHC122,000,000 iv) Interest on lon is in connection with uncollectable staff loan written al. The staffs concerned are no longer in the employment of the firm. V) Medical Expenses: An amount of GHC 180,000,000 was spent on the dependants of members of stall. The rest represent the medical bills of Kadrie's grandmother vi) The amount slated for entertainment is the cost incurred for quarterly get together breakfast meeting with vendors, staff customers and potential customers of the fim. vii) Management Salaries: The composition is as follows KaDvie GHC 420,000.00 Stall GHC20,000,000 vii) Repairs: This is made up a fost Electronie Security Doors GHC100.000,00 Extension to the warehouse GHC 350,000,000 Periodic Repairs and maintenance GHC130,000,000 ix) It has been established the rent cost of the business is only 80% of the amount recorded in the business books. The rest was a cover up for an underland dealing with the Police Required: Calculate the amount to be subjected to tax for 2017 year of assessment of KaDele 20 MARKS C 3. SHOW WORKINGS WHERE NECESSARY QUESTION ONE KaDzie ventures has been in business trading dealing in a product called "Elewuuu" for several in Alakple township in the Vol Region. He presented the following statements for the year ended 31 December 2017 GH000 GH000 Sales 5.400.000 Cost of sales 2.000.000 Gross prote 3.400.000 Add Discount Received 3.440.000 Management Sales Repairs Entertainment 440,000 480,000 120,000 Donation 100,000 115,00 240,000 242.000 Legal Fees Unrealised Exchange Less Bad Debts Los on sale of Equipment Depreciation Medical Expenses Sundry Expenses 60,000 470,000 640,000 720,000 Advertising Rem Interest on Loan 150,000 800,000 180,000 4,850, 700 1.41700 KaDeie provided you with the following additional information: 1) Assume Capital Allowance of GHCI,140,000 L) GHC640,000 of the sundry expenses was used to rehabilitate the private resident of his father an 12:57 minutes ago Advertising 150,000 Rent 800,000 Interest.com 180,000 4,850,700 1.417000 K.Deie provided you with the following additional information: 1) Assume Capital Allowance of GHC 1.340,000 ) GHC640,000 of the sundry expenses was used to rehabilitate the private resident of his father 1) Bad Debts Special GHC20.000000 General GHC100,000,000 Bad Debts written off GHC122,000,000 iv) Interest on lon is in connection with uncollectable staff loan written al. The staffs concerned are no longer in the employment of the firm. V) Medical Expenses: An amount of GHC 180,000,000 was spent on the dependants of members of stall. The rest represent the medical bills of Kadrie's grandmother vi) The amount slated for entertainment is the cost incurred for quarterly get together breakfast meeting with vendors, staff customers and potential customers of the fim. vii) Management Salaries: The composition is as follows KaDvie GHC 420,000.00 Stall GHC20,000,000 vii) Repairs: This is made up a fost Electronie Security Doors GHC100.000,00 Extension to the warehouse GHC 350,000,000 Periodic Repairs and maintenance GHC130,000,000 ix) It has been established the rent cost of the business is only 80% of the amount recorded in the business books. The rest was a cover up for an underland dealing with the Police Required: Calculate the amount to be subjected to tax for 2017 year of assessment of KaDele 20 MARKS C