Depreciation – NBC Institute

FA – Nov 2012 – L1 – SA – Q23 – Depreciation

Identifying the term for a fall in asset value due to changes in technology or fashion.

Question

The fall in the value of an asset which does not result from use or age, but from change in technology, taste, or fashion is called:

Answer

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Tags: Assets, Depreciation, Obsolescence
Level: Level 1

Topic: Depreciation
Series: NOV 2012

PT – Nov 2023 – L2 – Q4b – Corporate Tax Liabilities

Computation of tax payable by a company after adjustments for depreciation, capital allowance, and brought-forward losses.

Question

Trincao Ghana, a branch of Trincao International, declared a loss of GH¢500,000 in 2020. Below are the extracts from the company’s returns for the 2022 year of assessment:
Items Amount (GH¢)
Net Profit as per Accounts 20,000,000
Depreciation 82,500
Loss from 2016 49,230
Capital Allowance Agreed with GRA 95,360
Corporate tax rate is 25%.

Required:
Determine the tax payable on profit by Trincao Ghana for the 2022 year of assessment.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Capital Allowance, Corporate Tax, Depreciation, Tax Liability, Taxable Profit
Level: Level 2

Topic: Capital allowance, Corporate Tax Computation, Depreciation
Series: NOV 2023

FA – Nov 2012 – L1 – SA – Q23 – Depreciation

Identifying the term for a fall in asset value due to changes in technology or fashion.

Question

The fall in the value of an asset which does not result from use or age, but from change in technology, taste, or fashion is called:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assets, Depreciation, Obsolescence
Level: Level 1

Topic: Depreciation
Series: NOV 2012

PT – Nov 2023 – L2 – Q4b – Corporate Tax Liabilities

Computation of tax payable by a company after adjustments for depreciation, capital allowance, and brought-forward losses.

Question

Required:
Determine the tax payable on profit by Trincao Ghana for the 2022 year of assessment.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Capital Allowance, Corporate Tax, Depreciation, Tax Liability, Taxable Profit
Level: Level 2

Topic: Capital allowance, Corporate Tax Computation, Depreciation
Series: NOV 2023

Topic: Depreciation

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FA – Nov 2012 – L1 – SA – Q23 – Depreciation

Identifying the term for a fall in asset value due to changes in technology or fashion.

PT – Nov 2023 – L2 – Q4b – Corporate Tax Liabilities

Computation of tax payable by a company after adjustments for depreciation, capital allowance, and brought-forward losses.

FA – Nov 2012 – L1 – SA – Q23 – Depreciation

Identifying the term for a fall in asset value due to changes in technology or fashion.

PT – Nov 2023 – L2 – Q4b – Corporate Tax Liabilities

Computation of tax payable by a company after adjustments for depreciation, capital allowance, and brought-forward losses.

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Topic: Depreciation

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FA – Nov 2012 – L1 – SA – Q23 – Depreciation

Identifying the term for a fall in asset value due to changes in technology or fashion.

You're reporting an error for "FA – Nov 2012 – L1 – SA – Q23 – Depreciation"

PT – Nov 2023 – L2 – Q4b – Corporate Tax Liabilities

Computation of tax payable by a company after adjustments for depreciation, capital allowance, and brought-forward losses.

You're reporting an error for "PT – Nov 2023 – L2 – Q4b – Corporate Tax Liabilities"

FA – Nov 2012 – L1 – SA – Q23 – Depreciation

Identifying the term for a fall in asset value due to changes in technology or fashion.

You're reporting an error for "FA – Nov 2012 – L1 – SA – Q23 – Depreciation"

PT – Nov 2023 – L2 – Q4b – Corporate Tax Liabilities

Computation of tax payable by a company after adjustments for depreciation, capital allowance, and brought-forward losses.

You're reporting an error for "PT – Nov 2023 – L2 – Q4b – Corporate Tax Liabilities"

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