Page 44 - F1 Integrated Workbook STUDENT 2018
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Chaptter 2








                   Exxampple 4




                   Usinng the infoormation froom exampples 1 to 3 ccalculate thhe tax payyable for the
                   yeaar ended 311/12/X1. You should assume a tax rate off 30%.

                   Solution
                                                                            $ $
                   Acccounting prrofit                                  50,0000
                   Lesss: exempt income                                  (5,0000)
                   Addd back: disallowable expenses                       3,5500
                   Addd back: deppreciation (example 11)                  7,0000
                   Lesss: tax depreciation (eexample 2)                 (11,2200)
                                                                      ––––––––
                   Taxxable profitt                                     44,3300
                   Taxx at 30%                                          13,2290














































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