Question
The estimated chargeable income for GRA LTD for the 2016 year of assessment was GH50,000,000 but its actual chargeable income declared at the end of
The estimated chargeable income for GRA LTD for the 2016 year of assessment was GH50,000,000 but its actual chargeable income declared at the end of the year was GH80,000,000.
GRA LTD submitted the accounts on 30th April 2017 and the BOG rediscount rate at that time was 25%.
You are required to calculate (if any) the interest for underestimation.
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine, Christopher D. Burnley
8th Canadian Edition
111959457X, 978-1119594574
