Revenue Types – NBC Institute

AT – Nov 2016 – L3 – Q5b – Minerals and mining

Compute the royalty payable by Go-Get Mining Company for the second quarter of its operations in 2015.

Question

b) Compute the Royalty payable on the operation of Go-Get Mining Company from the second quarter of its operations in 2015 from the following financial data:

Item	GH¢
Revenue	100,000
Cost of operation	65,000
Capital allowance agreed	15,000
Royalty (first quarter)	60,000

(3 marks)

Required: 2015 individual income tax rate

Income Bracket	Tax Rate
First 1,584	Nil
Next 792	5%
Next 1,104	10%
Next 28,200	17.5%
Exceeding 31,680	25%

Answer

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Tags: Additional Oil Entitlement, Carried Interest, Revenue Types, Upstream Petroleum
Level: Level 3

Topic: Petroleum operations
Series: NOV 2016

AT – Nov 2016 – L3 – Q5a – Petroleum operations

Discuss the types of revenue generated from upstream petroleum operations, focusing on carried interest, additional carried interest, and additional oil entitlement.

Question

a) Ghana, having found oil in commercial quantity, has joined its counterparts in the world in the production of oil. Fiscal systems have been put in place to bring in various revenue streams to the Government of Ghana.

Required:
Discuss fully the under-listed revenue types from upstream petroleum operations:

i) Carried Interest (3 marks)
ii) Additional Carried Interest (3 marks)
iii) Additional Oil Entitlement (3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Additional Oil Entitlement, Carried Interest, Revenue Types, Upstream Petroleum
Level: Level 3

Topic: Petroleum operations
Series: NOV 2016

AT – Nov 2016 – L3 – Q5b – Minerals and mining

Compute the royalty payable by Go-Get Mining Company for the second quarter of its operations in 2015.

Question

b) Compute the Royalty payable on the operation of Go-Get Mining Company from the second quarter of its operations in 2015 from the following financial data:

Item	GH¢
Revenue	100,000
Cost of operation	65,000
Capital allowance agreed	15,000
Royalty (first quarter)	60,000

(3 marks)

Required: 2015 individual income tax rate

Income Bracket	Tax Rate
First 1,584	Nil
Next 792	5%
Next 1,104	10%
Next 28,200	17.5%
Exceeding 31,680	25%

Answer

Find Related Questions by Tags, levels, etc.

Tags: Additional Oil Entitlement, Carried Interest, Revenue Types, Upstream Petroleum
Level: Level 3

Topic: Petroleum operations
Series: NOV 2016

AT – Nov 2016 – L3 – Q5a – Petroleum operations

Discuss the types of revenue generated from upstream petroleum operations, focusing on carried interest, additional carried interest, and additional oil entitlement.

Question

Required:
Discuss fully the under-listed revenue types from upstream petroleum operations:

i) Carried Interest (3 marks)
ii) Additional Carried Interest (3 marks)
iii) Additional Oil Entitlement (3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Additional Oil Entitlement, Carried Interest, Revenue Types, Upstream Petroleum
Level: Level 3

Topic: Petroleum operations
Series: NOV 2016

Question Tag: Revenue Types

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AT – Nov 2016 – L3 – Q5b – Minerals and mining

Compute the royalty payable by Go-Get Mining Company for the second quarter of its operations in 2015.

AT – Nov 2016 – L3 – Q5a – Petroleum operations

Discuss the types of revenue generated from upstream petroleum operations, focusing on carried interest, additional carried interest, and additional oil entitlement.

AT – Nov 2016 – L3 – Q5b – Minerals and mining

Compute the royalty payable by Go-Get Mining Company for the second quarter of its operations in 2015.

AT – Nov 2016 – L3 – Q5a – Petroleum operations

Discuss the types of revenue generated from upstream petroleum operations, focusing on carried interest, additional carried interest, and additional oil entitlement.

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Question Tag: Revenue Types

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AT – Nov 2016 – L3 – Q5b – Minerals and mining

Compute the royalty payable by Go-Get Mining Company for the second quarter of its operations in 2015.

You're reporting an error for "AT – Nov 2016 – L3 – Q5b – Minerals and mining"

AT – Nov 2016 – L3 – Q5a – Petroleum operations

Discuss the types of revenue generated from upstream petroleum operations, focusing on carried interest, additional carried interest, and additional oil entitlement.

You're reporting an error for "AT – Nov 2016 – L3 – Q5a – Petroleum operations"

AT – Nov 2016 – L3 – Q5b – Minerals and mining

Compute the royalty payable by Go-Get Mining Company for the second quarter of its operations in 2015.

You're reporting an error for "AT – Nov 2016 – L3 – Q5b – Minerals and mining"

AT – Nov 2016 – L3 – Q5a – Petroleum operations

Discuss the types of revenue generated from upstream petroleum operations, focusing on carried interest, additional carried interest, and additional oil entitlement.

You're reporting an error for "AT – Nov 2016 – L3 – Q5a – Petroleum operations"

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