A company makes up accounts for th e 21 months to 30 September 2017 . The company's
Question:
A company makes up accounts for th e 21 months to 30 September 2017 . The company's results for this period of account are as follows:
Transcribed Image Text:
Adjusted trading profits (before capital allowances) Non-trade loan interest receivable: Received 31 October 2016 Received 30 April 2017 Accrued to 30 September 2017 Chargeable gains: Disposal on 25 May 2016 Disposal on 12 December 2016 Disposal on 15 February 2017 Gift Aid donations: Paid 31 December 2016 Accrued to 30 September 2017 630,000 600 600 500 2,300 700 10,500 4,000 3,000 The loan interest receivable relates to a 12,000 loan made on 1 May 2016 at 10%. The company makes a 4,000 Gift Aid donation on 31 December every year. Show how the period of account will be divided into accounting periods and compute the company's taxable total profits for each accounting period. (Ignore capital allowances).
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
There are two accounting periods the year to 31 December 2016 and the nine months to 30 Septe...View the full answer
Answered By
Morgan Njeri
Very Versatile especially in expressing Ideas in writings.
Passionate on my technical knowledge delivery.
Able to multitask and able to perform under pressure by handling multiple challenges that require time sensitive solution.
Writting articles and video editing.
Revise written materials to meet personal standards and satisfy clients demand.
Help Online Students with their course work.
4.90+
12+ Reviews
38+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
You are presented with the following forecast information relating to Baker Limited for the nine months to 30 September 2017. Forecast statements of profit or loss (abridged) for the three quarters...
-
S Ltd has taxable total profits of 120,000 for the six months to 30 September 2017 and receives no dividends. Until 1 June 2017, S Ltd had no related 51% group companies. However, on that date, its...
-
Subsequent Events and Subsequently Discovered Facts. Michael Ewing is auditing the financial statements of Dallas Company for the year ended December 31, 2014. In concluding the process of gathering...
-
In a search for fluorocarbons having anesthetic properties, 1, 2-dichloro-1, 1-difluoropropane was subjected to photochemical chlorination. Two isomeric products were obtained, one of which was...
-
Assume the Eurodollar rate (nine-month LIBOR) is 9 percent and the Eurosterling rate (nine-month LIBOR for the U.K. currency) is 11 percent. What is the nine-month forward $/ exchange rate if the...
-
What is the probability that a voter chosen at random did not vote for a Democratic representative in the 2008 election? (Source: Federal Election Commission) Using a Frequency Distribution to Find...
-
Find the present values of the following ordinary annuities: a. PV of $400 each six months for five years at a simple rate of 12 percent, compounded semiannually b. PV of $200 each three months for...
-
Q5) what is Utilitarianism? You can give example like rights/positive rights / negative rights * justice * Care * Morality justice
-
A company made the following disposals during the year to 31 March 2018: (a) A factory building was sold for 650,000 on 13 June 2017 (RPI 271.1). This building had cost 300,000 in August 2000 (RPI...
-
A company's income statement for the year to 31 March 2018 is as follows: Notes: 1) The company acquired 240,000 of 10% debentures (for non -trade purposes) on 1 January 2018. Interest is receivable...
-
What standard of care do states use if they no longer use the common law classification for those entering a possessors land?
-
Consider: x3 + c (x 1)(x 3)(x + 1) (x + 3x + 9) (x + 2x + 5) How many partial fractions are there in the partial fraction decomposition of this function? How many unknowns (A, B, ...) must be...
-
Hand trace the following program. 1 y 0 2 for x in range (5): y = y + x 4 print ("x",x, "and y =", y) Note: You can shorten the prompts in your hand trace if you want to.
-
Determine the location using physics calculations to solve the problem. Show step by step details for how you solved the problem. I don't need an explanation explaining how to solve the problem. T By...
-
Give a brief explanation about the organization/company i.e., the products or services, number of employees, etc. Do a SWOT chart to help organize your ideas. Refer to resources in the reading for an...
-
How are organization "formal" and "informal" structures impacted in organizational change? Provide some examples. Compare and contrast Lewin's Change Model with Kotter's Change model. (Show how they...
-
The table in the question reports various ratios for 2007 to 2011 for Qantas and Air New Zealand. a. Given that the companies operate in the same industry, write a report explaining what the ratios...
-
Willingness to pay as a measure of a person's value for a particular good measures the maximum a person would be willing to pay requires that payment actually be made depends on the satisfaction that...
-
Calculate the CGT payable in relation to each of the following disposals, assuming in each case that the annual exemption is fully utilised against other gains, that there are no allowable losses and...
-
In May 2016, Ruth sold a freehold building which she had used exclusively for business purposes. The building was sold for 220,000, realising a chargeable gain of 42,500. In the following month, Ruth...
-
In January 1981, Norman bought a freehold building for use in his business at a cost of 120,000. The building had a market value on 31 March 1982 of 125,000. In June 2015 he sold the building for...
-
Nitin is paid a base salary of $200 per week and commission at the rate of 3% for sales over $5000, 4% if his sales are over $8000, and 5% if sales are over $15,000. How much will Nitin earn in a...
-
Safa is paid a base salary of $1500 per month and a commission of 6% on all sales over $75,000. Last month, Safa's gross salary was $4440. What were her sales for the month? a$149,000 b$124,000...
-
Your regular hourly rate of pay is $15.86, and you are paid double time for all work on weekends and for any time over forty hours per week (Monday to Friday). Calculate your gross earnings for a...
Study smarter with the SolutionInn App