Question
Daka Patson apart from playing soccer in the UK has been in business for many years and has always prepared his accounts to December 31.
Daka Patson apart from playing soccer in the UK has been in business for many years and has always prepared his accounts to December 31. After preparing accounts to December 31, 2019, he changed the accounting date to September 30 and prepared the next accounts for the period of nine months ended September 30, 2020. His taxable for the relevant accounting periods are as follows:
PROFIT | |
K | |
Y/e 31.12.18 | 55,400 |
Y/e 31.12.19 | 77,000 |
P/e 30.09.20 | 63,600 |
Y/e 30.09.21 (forecast) | 78,900 |
Required
Show the income tax assessment for each relevant tax year
Step by Step Solution
3.39 Rating (158 Votes )
There are 3 Steps involved in it
Step: 1
1 Daka Patsons profit would be assessed as 55400 for the taxa...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App