. The break-up of Entertainment and gifts is as follows: Mona spent 800 on the UK customers' party because she knows this will surely increase the sales in the next year. also, she spent 1500 on overseas customers, they visited the business during the year. She spent for staff party 400. He conducted his family gathering in a hotel and the entire bill of 785 is included along with Entertainment expenses. Mona gave a gift from the business account as follows: A gift to a staff upon his marriage 80 There is 12 staff working in his business. For every staff, he gave a packet of chocolates costing 5 each from his business. He gave food hampers costing 10 each for 100 customers. Diary costing 8 each for 100 customers, mobile phone costing 75 each for 5 customers. 7) Mona has taken a car on a lease basis and paid lease rent of 5,500. The CO2 emission of the car is 120 gms/km. > Other expenses include a 150 parking fine for Mona, 250 is the penalty for not following the safety measures in the factory and a 50 gift to the staff on the occasion of his birthday. 9) Capital Allowances are calculated as 25,000. 10) Mona had a trading loss of 8,000 for the year-end 31 March 2020. Required: . Calculate the adjusted trading Profit of Mona for the year ended 31 March 2021 after considering the brought forward loss. (8 marks) ) Calculate the Class 2 and 4 NIC for the business of Mona. (2 marks) Explain to Mona how long he has to maintain the books and records and specify the penalty procedure if he fails to maintain the books and records for the required period. (max. 100 words) (2 marks) . The break-up of Entertainment and gifts is as follows: Mona spent 800 on the UK customers' party because she knows this will surely increase the sales in the next year. also, she spent 1500 on overseas customers, they visited the business during the year. She spent for staff party 400. He conducted his family gathering in a hotel and the entire bill of 785 is included along with Entertainment expenses. Mona gave a gift from the business account as follows: A gift to a staff upon his marriage 80 There is 12 staff working in his business. For every staff, he gave a packet of chocolates costing 5 each from his business. He gave food hampers costing 10 each for 100 customers. Diary costing 8 each for 100 customers, mobile phone costing 75 each for 5 customers. 7) Mona has taken a car on a lease basis and paid lease rent of 5,500. The CO2 emission of the car is 120 gms/km. > Other expenses include a 150 parking fine for Mona, 250 is the penalty for not following the safety measures in the factory and a 50 gift to the staff on the occasion of his birthday. 9) Capital Allowances are calculated as 25,000. 10) Mona had a trading loss of 8,000 for the year-end 31 March 2020. Required: . Calculate the adjusted trading Profit of Mona for the year ended 31 March 2021 after considering the brought forward loss. (8 marks) ) Calculate the Class 2 and 4 NIC for the business of Mona. (2 marks) Explain to Mona how long he has to maintain the books and records and specify the penalty procedure if he fails to maintain the books and records for the required period. (max. 100 words) (2 marks)
