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Question 5 Not yet answered. Marked out of 15.00 Flag question Mr. Mohamed has a carpentry workshop, he prepared the income statement for the
Question 5 Not yet answered. Marked out of 15.00 Flag question Mr. Mohamed has a carpentry workshop, he prepared the income statement for the carpentry workshop for the year of 2020. Mr. Mohamed asked for your assistance to prepare the Income Tax Statement to be presented to Tax Authority. The details of the Income statement as follow: Revenues from Carpentry Revenues from other work Total Revenues Al Salam Carpentry Income Statement for 2020 90,000 50,000 140,000 Carpentry Expenses: Rent 5,000 Employees' Salaries 10,000 Electricity and Water 2000 Depreciation 3,000 Hospitality 500 Internet Subscription 500 Municipality Fees 1,000 Registration Fees 250 Donations to Mosque 750 Income Tax for 2017 Late tax payment fees 4,250 250
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