A. You are provided with the following information form the accounts of BBS Ltd for the year ending 30 June 2019 Cash Sales Cost of Goods Sold Amount received in advance for services to be performed in August 2019 Rent expenses for year ended 30 June 2019 Rent Prepaid for two months to 31 August 2019 Doubtful debts expenses Amount provided in 2019 for employees' long-service leave entitlements Goodwill impairment expenses 950 000 35 000 9 500 9 000 1 200 1 200 5 000 7 000 Required: Calculate the taxable profit and accounting profit for the year ending 30 June 2019.
A. You are provided with the following information form the accounts of BBS Ltd for the year ending 30 June 2019 Cash Sales Cost of Goods Sold Amount received in advance for services to be performed in August 2019 Rent expenses for year ended 30 June 2019 Rent Prepaid for two months to 31 August 2019 Doubtful debts expenses Amount provided in 2019 for employees' long-service leave entitlements Goodwill impairment expenses 950 000 35 000 9 500 9 000 1 200 1 200 5 000 7 000 Required: Calculate the taxable profit and accounting profit for the year ending 30 June 2019.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 1MC: The balance in Ashwood Companys accounts payable account at December 31, 2019, was 1,200,000 before...
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Subject: Advance finance accounting
Required:
a) From the table A Calculate the taxable profit and accounting profit for the year ending 30 June 2019
b)Provide the
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