A manufacturing company has the following results for the year to 31 March 2018: Trading income Income
Question:
A manufacturing company has the following results for the year to 31 March 2018:
Transcribed Image Text:
Trading income Income from property Bank interest (amount received) Interest on Government securities (amount received) Dividends from UK companies Chargeable gains Gift Aid donation 883,000 14,200 3,200 28,000 18,450 123,000 24,000 The following information is also relevant: (a) Bank interest of 1,100 was owing to the company at the end of the year. The corresponding amount at the start of the year was zero. (b) The Government securities were acquired on 1 July 2017. Interest of 28,000 is pay- able to the company on 30 June and 31 December each year. Compute the company's taxable total profits for the year to 31 March 2018.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Notes i The bank interest is income from a non trading loan relationship and is a...View the full answer
Answered By
Shadrack Mulunga
I am a Biochemistry by profession. However, I have explored different fields of study. My quest to explore new fields has helped me gain new knowledge and skills in Business, clinical psychology, sociology, organizational behavior and general management, and Project Management. I count my expertise in Project management, in particular, creation of Work Break Down Structure (WBS) and use of Microsoft Project software as one of my greatest achievement in Freelancing industry. I have helped thousands of BSC and MSC students to complete their projects on time and cost-effectively using the MS Project tool. Generally, I find happiness in translating my knowledge and expertise to success of my clients. So far, i have helped thousands of students to not only complete their projects in time but also receive high grades in their respective courses. Quality and timely delivery are the two key aspects that define my work. All those who hired my services always come back for my service. If you hire my services today, you will surely return for more. Try me today!
5.00+
154+ Reviews
289+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A company has the following results for the year to 31 March 2018: The company intends to make Gift Aid donations of 30,000 every six months, starting on 30 November 2017. (a) Compute the company's...
-
You work for firm XYZ situated in the United States, and your boss has become concerned about the current economic environment, especially as it is related to the different types of exposures that...
-
A company has the following results for the year to 31 March 2018: Trading profits, after capital allowances Bank deposit interest (account opened 1 April 2017): Received 30 June 2017 Received 31...
-
What are decision support systems, and what role do they play in the business environment?
-
Write structural formulas for each of the following alcohols and alkyl halides: (a) Cyclobutanol (e) 2,6-Dichloro-4-methyl-4-octanol (b) sec-Butyl alcohol (f) trans-4-tert-Butylcyclohexanol (c)...
-
Key activities for talent and career development include: managing talent in a developmental way; providing international experience; and understanding employee perspectives on careers. lop1
-
Individual Stock Price An individual stock is selected at random from the portfolio represented by the box-and-whisker plot shown. Find the probability that the stock price is (a) less than $21, (b)...
-
Where would each of the following items most likely be reported in a companys financial statements? Assume the monetary amount of each item is material and the company uses a periodic inventory...
-
A corporation that follows IFRS, reported the following amounts in the shareholders' equity section: Preferred shares, $8 cumulative dividend (100 000 shared authorized, 50 000 shares issued) 30 000...
-
A company produces the following income statement for the year to 31 March 2018: Notes: 1. The pr operty was let on 1 January 2018 at a rent of 20,000 per annum, payable annually in advance. The...
-
In 2010, Shaun bought 20% of the ordinary shares of an unlisted trading company. The shares cost 140,000. He owned the shares until January 2018 when he gave all the shares to a friend. On the date...
-
What does it mean to reconcile your account balance? Why is it important for you to regularly perform this task?
-
Go to: https://www.instagram.com/ryderseyewear/ on your desktop, laptop, or mobile (or a combination of all 3). You are the new Social Media Marketing Manager for Ryders Eyewear. You've been asked...
-
As leaders, it is very important that we have the ability to assess our own motivation and the motivation of others around us. It is also important to recognize the key factors involved in...
-
At the end of this exam, you will find Article 1 - " How Companies Can Prepare for a Long Run of High Inflation ". Please read the article and, when necessary, consult additional sources and the...
-
You can develop your capabilities as a manger by better understanding different ways of motivating and rewarding employees. You can also better prepare for your own career by better understanding the...
-
Topic: Project Malasakit of Kara David https://projectmalasakit.org/ What is the pros and cons of these alternative courses of the action below: Strengthen the internal organization via promoting it...
-
Singapore Telecommunications (SingTel), Southeast Asia's biggest telecoms firm, posted a 2.3% fall inquarterly profit due to a steep fall in contribution from its Indian unit Bharti Airtel and...
-
Conduct a VRIO analysis by ranking Husson University (in Maine) business school in terms of the following six dimensions relative to the top three rival schools. If you were the dean with a limited...
-
Dorothy's income tax and Class 4 NICs liability for 2019-20 was 24,600, of which 600 was deducted at source. Her liability for 2020-21 is 28,000, of which none is deducted at source. She made a first...
-
For each of the following taxpayers, state the dates on which the 2020-21 income tax is due to be paid and calculate the amount payable on each date. (Ignore Class 4 NICs). (a) Guy's 2019-20 income...
-
Barbara (see Examples 2 and 3 above) pays all of her late payment penalties on 4 March 2023. Calculate the total interest payable by Barbara in relation to her income tax and Class 4 NICs for...
-
Show that the convexity for a zero coupon bond with m payments per year is (m) n(n + -)(1+ m m
-
Abdul Canarte , a Central Bank economist, noticed that the total group purchasing basket of goods (CPI) has gone from $149,740.00 to $344,460.00 in 8 years. With monthly compounding, what is the...
-
ABC Corporation expects sales next year to be $50,000,000. Inventory and accounts receivable (combined) will increase $8,000,000 to accommodate this sales level. The company has a profit margin of 6...
Study smarter with the SolutionInn App