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Calculate the taxable income and current tax liability for ASA Ltd.: Accounting profit(loss)- ($13,000) Taxdepreciationfor plant - $1,250 Allocation for annual leave -$0 Annual leave
Calculate thetaxable income and current tax liabilityfor ASA Ltd.:
- Accounting profit(loss)- ($13,000)
- Taxdepreciationfor plant - $1,250
- Allocation for annual leave -$0
- Annual leave paid during the year - $1,150
- Accountingdepreciationexpense for plant - $3,250
- Fines and Penalty - $ 5,200
The corporate tax is 30%.
Select one:
a.(12,150) - 0
b.(6,950) - 0
c.20,200 - 6,060
d.(12,150) - (3,645)
e.15,000 - 4,500
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