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.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 69E: Unearned Revenue Jennifers Landscaping Services signed a $400-per-month contract on November 1,...
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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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