Bravery Pte Ltd, was incorporated on 16 January 2019 as a manufacturing company with an accounting year end of 31 December. It is wholly owned by XYZ Ltd. It has a chargeable income before exempt income of $1,000,000 for the year ended 31 December 2021. Calculate its net tax payable for Year of Assessment 2022. 1) $120,575 2) $148,750 3) $144,075 4) $152,575

1-13 Organizational Expenditures. G Corporation, an accrual basis taxpayer, incurred and paid $41,000 of qualifying organizational expenditures in 2021. Assuming G Corporation wishes to maximize its deductions, compute the maximum amount of organization costs that may be deducted for each of the following years if G Corporation adopts a calendar tax year. For 2021, if G Corporation began business on September 1. Calendar year 2022? Calendar year 2026? How would your answer to (a) change if the $41,000 had been paid in February 2022? How would your answer to (a) change if G Corporation were a cash basis taxpayer and the $41,000 had been paid in February 2022? How would your answer to (a) change if G Corporation had incurred $12,000 of the $41,000 qualified expenditures in January 2022.

Explain when an accounting period starts for corporation tax purposes. 3.2 - Using all the relevant information provided above, calculate Harrogate Chocolate Ltd taxable total profit for the six months ended 31 March 2023. 3.3 - Calculate the corporation tax payable by Harrogate Chocolate Ltd assuming the maximum group relief is surrendered from Suggar Ltd to Harrogate Chocolate Ltd. 3.4 - State the dates on which Harrogate is required to file the CT 600 corporation tax return for the six months period to 31 March 2023 and when any tax payment(s) will be due for the period.

9) Matador began doing business on January 1, 2018, using the Percentage of Completion to record construction revenues. During 2022, Matador changed to the Completed Contract Method to record construction revenues to be consistent with industry practice. The bookkeeper used the Completed Contract Method for recording construction revenues in 2022. Determine the adjustment to ICO. Matador has a corporate tax rate of 30%. The company compiled the following comparative data. 2018 2019 2020 2021 2022 Percentage of Completion Method $ 600,000 $545,500 $ 537,500 $512,500 $685,000 Completed Contract Method $387,500 $322,500 $385,000 $395,000 $415,000 10) Using the information in Question 9, determine the cumulative effect adjustment to Retained Earnings that Matador will recognize in the journal entry to record this accounting change. Matador has a corporate tax rate of 30%. 11) Matador reports 3 years of comparative financial statements (2022, 2021, and 2020). Using the information in…