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Magnolia LLP, in order to maintain mutually beneficial cooperation in 2022, a meeting was organized with the management of a foreign counterparty - a supplier
Magnolia LLP, in order to maintain mutually beneficial cooperation in 2022, a meeting was organized with the management of a foreign counterparty - a supplier of raw materials in Almaty. Representation expenses were incurred to organize the negotiations in the amount of 561,000 tenge. Magnolia LLP complied with all the conditions for qualifying expenses as hospitality expenses. The following expenses were incurred in The total amount of these costs - 535,000 tenge is reflected in 1C financial system 7210 Administrative expenses" account. The short-term payables for payroll/ employees' income for Financial Year (FY) 2022 is 51200000 tenge. Required: Calculate the amount of deduction of representation expenses for FY 2022
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