Question
(a). Albert and Akol LLC prepares accounts for the year end 31 March 2018 and provides the following information: Property income from renting a warehouse
(a). Albert and Akol LLC prepares accounts for the year end 31 March 2018 and provides the following information: Property income from renting a warehouse in the UK 640,000 Dividends received from unconnected UK companies 288,000 Trading income 1,792,000 Dividends received from an unconnected German company 72,000 Dividends paid 180,000 Interest income 96,000 Gift Aid donation gross amount paid 16,000 They disposed of some shares held as an investment on 30 November 2010 and realised a chargeable gain of 968,000. Required Calculate the TTP, Augmented Profit and Tax payable for the year ended 31 March 2010. (6 marks) (b). A business bills the customers 250,000 plus VAT of 50,000 at the standard rate in its first year. The Flat Rate applicable to their business is 18.5% (1% discount). Compute the profit for the business.
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