Question
A company reported a/c profit after tax of sh.1.2m on 31/12/2018. The company had purchased an item of plant at sh.800, 000 on 1st Jan
A company reported a/c profit after tax of sh.1.2m on 31/12/2018. The company had purchased an
item of plant at sh.800, 000 on 1st Jan 2016. Depreciation is on straight line at rate of 25% per annum
while wear and tear at 20% on the cost per annum.
Tax is at 30%
Required:
What is the current tax
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
