Question
The company, North S.L., has the following information in the Balance Sheet and Profit and Loss Account for 2016, before calculating its Corporate Tax: BALANCE
The company, North S.L., has the following information in the Balance Sheet and Profit and Loss Account for 2016, before calculating its Corporate Tax:
BALANCE SHEET
ASSETS
LIABILITIES
69.360,00A) NON CURRENT ASSET
A) NET EQUITY
105.130,00
4.860,001. Intangible asset
A-1) Equity
60.000,00
4.860,001. R+D
1. Capital
60.000,00
4.860,00201 DEVELOPMENT
1. Issued capital
60.000,00
64.500,00II. Tangible Fixed Assets
100SOCIAL CAPITAL
19.500,00
64.500,002. Technical facilities and others.
III. Funds
12.000,00
52.000,00213 MACHINERY
1. Legal y statuary
12.000,00
8.000,00216 FURNITURE
112 LEGAL FUNDS
7.500,00
3.500,00217 INFORMATION PROCESSING EQUIP.
2. Other funds
7.500,00
25.000,00218 TRANSPORT
113 VOLUNTEER FUND
25.630,00
-24.000,00281 CUMULATIVE DEPRECIATION
VII. Result of the fiscal year
32.000,00
104.050,00B) CURRENT ASSET
B) NON-CURRENT LIABILITY
32.000,00
20.500,00II. Stock
II. Long-term debts
32.000,00
20.500,001. Commercial
5. Other financial liabilities
32.000,00
20.500,00300 GOODS
171 LONG-TERM DEBTS
36.280,00
16.250,00 III. Debtors
C) CURRENT LIABILITY
6.100,00
11.850,001. Clients (sales and services)
III. Short-term debts
6.100,00
11.850,00b) Clients (sales and services) short-term
5. Other financial liabilities
6.100,00
14.300,00430 CLIENTS
523 SUPPLIERS
30.180,00
1.800,00431 CLIENTS, COMMERCIAL PURPOSE
V. Creditors
11.200,00
-4.250,00490 VALUE IMPAIRMENT
1. Suppliers
11.200,00
4.400,006. Other creditswith Public Adminis.
b) Short-term suppliers
11.200,00
4.400,00473 PUBLIC FINANCES, WITHOLDINGS
400 SUPPLIERS
18.980,00
67.300,00 VII. Cash
3. Different Creditors
18.980,00
67.300,001. Treasury
410 Creditors
105.130,00
2.200,00570 CASH FLOW, EUROS
65.100,00572 BANKS AND CREDIT INSTITUTIONS
173.410,00 T OTAL ASSETS
TOTAL NET EQUITY AND LIABILITIES 173.410,00
LOSS AND PROFIT ACCOUNT
1. Net revenue
204.300,00
700 SALES OF GOODS
200.000,00
705 PROVISION OF SERVICES
5.500,00
708 SALES RETURNS
-1.200,00
4. Supplies
-69.800,00
600 PURCHASE OF GOODS
-72.450,00
610 CHANGE IN INVENTORY
2.650,00
6. Staff costs
-75.170,00
640 WAGES AND SALARIES
-56.800,00
642 SOCIAL SECURITY
-16.470,00
649 OTHER SOCIAL EXPENSES
-1.900,00
7. Other operating costs
-19.850,00
626 BANK SERVICES
-700,00
627 ADVERTISING AND PR
-3.600,00
628 SUPPLIES
-3.800,00
629 OTHER SERVICES
-7.100,00
631 OTHER TAXES
-400,00
694 IMPAIRMENT LOSSES
-4.250,00
8. Depreciation
- 13.950,00
681 DEPRECIATION
- 13.950,00
12. Other outcomes
- 600,00
678 EXTRA COSTS
- 600,00
A) ACTIVITY OUTCOME
24.930,00
13. Financial income
700,00
b) Other financial income
700,00
769 OTHER FINANCIAL INCOME
700,00
B) FINANCIAL OUTCOME
700,00
C) INCOME BEFORE TAXES
25.630,00
D) FISCAL YEAR OUTCOME
25.630,00
Make in each of the following points the adjustment needed to obtain the tax base of the Corporate Tax, basing the response and establishing the amount that corresponds. You must also indicate if you are facing a temporary or permanent difference.
1.The machinery was acquired for 52,000 in January 2014. An accounting depreciation expense of 7,000 is provided. Fiscally a maximum amortisation coefficient of 12% and a maximum period of 18 years is established.
2.The transport element or vehicle was acquired on January 1, 2013, with a price of 25,000 and a useful life of 5 years. The accounting amortisation is carried out using the method of decreasing digit numbers.
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