TP Limited has a written down value of machinery as 75,000 at the end of the year 2021. The machinery is the only asset in the pool. The repairs and improvement cost incurred during the year was 4000 cedis? How much of the repairs and improvement cost will be capitalized? A. 400 cedis B. 750 cedis C. 1250 cedis D. 250 cedis E. 1,000 cedis

The monthly basic salary of Hanson is GH800. He received an overtime allowance of GH400 in the month of January. Calculate the tax applicable to the overtime payments. A. GH25 B. GH20 C. GH40 D. GH65 E. GH30

Azuma limited reported a profit before tax of 250,000 cedis. The profit was arrived at after considering; provision for doubtful debt of 8000 cedis, Specific bad debt written off 2,000 cedis, depreciation 2000. Capital allowance of 5,000. Calculate the Chargeable income of ABC limited? A. 250,000 cedis B. 255,000 cedis C. 259,000 cedis D. 256,000 cedis E. 260,000 cedis

The following comprise the list of badges of employment except A. Contract of service B. Contract for service C. Stipulated work time D. Payment of wages and salaries E. tools provided for at work

Which of the following deductions is not an allowable from the assessable income in the determination of the Chargeable income? A. social security B. Donation to covid 19 fund C. disability relief D. Donation to church fund raising E. Donation to national Blood bank

YVS limited reported a profit before tax of 550,000 cedis. The profit was arrived at after considering; provision for doubtful debt of 70000 cedis, general bad debt written off 20,000 cedis, depreciation 50,000. Capital allowance of 50,000. Calculate the Chargeable income of ABC limited? A. 650,000 cedis B. 656,000 cedis C. 620,000 cedis D. 640,000 cedis E. 690,000 cedis

ABC limited reported a profit before tax of 10,000 cedis. The profit was arrived at after considering; provision for doubtful debt of 5000 cedis, Specific bad debt written off 2,000 cedis, depreciation 4000, financial gain 5,000, financial cost 35,000. Capital allowance of 5,000. Calculate the allowable financial cost of ABC limited? A. 14,000 cedis B. 10,000 cedis C. 22,000 cedis D. 27,000 cedis E. 15,000 cedis

UZl imited reported a profit before tax of 400,000 cedis. The profit was arrived at after considering; provision for doubtful debt of 8000 cedis, Specific bad debt written off 2,000 cedis, depreciation 2000. Capital allowance of 5,000. Calculate the Chargeable income of ABC limited? A. 400,000 cedis B. 405,000 cedis C. 410,000 cedis D. 415,000 cedis E. 420,000 cedis

Amankwa has a basic monthly salary of GH5,000. He received GH 3000 risk allowance, GH4,000 responsibility allowance, GH2,000 entertainment allowance and GH1000 bonus. Calculate his total cash emolument. A. GH15,000 B. GH14,000 C. GH14,750 D. GH14,250 E. GH10,000

Which of the following refers to the total of the persons assessable income from each business, employment, and investment less the total deductions allowed to that person for the year A. Total qualifying income B. Assessable income C. Chargeable income D. Disposable income E. Total cash emolument

Syntax limited reported a profit before tax of 150,000 cedis. The profit was arrived at after considering; provision for doubtful debt of 10000 cedis, Specific bad debt written off 2,000 cedis, depreciation 5000, financial gain 10,000, financial cost 30,000. Capital allowance of 5,000. Calculate the Adjusted Chargeable income of ABC limited? A. 270,000 cedis B. 170,000 cedis C. 172,000 cedis D. 190,000 cedis E. 200,000 cedis