Page 418 - F1 Integrated Workbook STUDENT 2018

Chaptter 25

Exxampple 3

Usinng the infoormation froom exampples 1 and 22 calculatee the taxabble profit for
the year endeed 31/12/X1.
Solution

$
Acccounting prrofit 50,000
Lesss: exempt income (5,000)
Addd back: disallowable eexpenses 3,500
Addd back: deppreciation (example 11) 7,000
Lesss: tax deprreciation (eexample 2) (11,200)
– –––––––
Taxxable profitt 44,300

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