- 12 Marks
PT – May 2020 – L2 – Q4b – Special considerations for taxation of gifts and capital allowances.
Calculation of the chargeable income for Stella-VD Ltd for the 2018 year of assessment.
Question
The Company’s assets include the following:
Type of Assets Date of Acquisition Cost (GH¢)
Factory Building 01/10/2017 300,000
Plant and Machinery 25/10/2017 171,000
Delivery Van 01/11/2017 50,000
Computers 01/10/2017 40,000
Furniture and Fittings 10/12/2017 150,000
Other Office Equipment 01/10/2017 200,000
Office Building 30/06/2018 500,000
Required:
Required:
a) Compute the appropriate capital allowance for 2017 and 2018 year of assessment. (8 marks)
b) Calculate the chargeable income of the company for assessment year 2018.
(12 marks)
Find Related Questions by Tags, levels, etc.
- Tags: chargeable income, Corporate Tax, Income Statement, Tax computation
- Level: Level 2
- Topic: Chargeable Income, Corporate Tax Liabilities
- Series: MAY 2020