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TAX305 Taxation Assignment

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Taxation Law (Tax305)

   

Added on  2020-05-08

TAX305 Taxation Assignment

   

Taxation Law (Tax305)

   Added on 2020-05-08

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TAXATIONPartnership TaxationStudents' NameCourse Title Instructor’s NameInstitutional AffiliationCity and State Date of Submission
TAX305 Taxation Assignment_1
TAXATIONThe Two B’sProfit & Loss Partnership Income StatementFor The Year Ended 30th June 2017 $ $IncomesGross trading receipts 1900000Capital Gain on Shares Of Internet Company Sold 20000Cash Dividend Received From BHP 10500Bank Interest received from China Bank 11250Reversing back withhold tax part of interest received 1250Total Income 1943000Less: Cost of Goods Sold (200000) 1743000Expenses;Interest paid on loan of funds by Mary 10000Salaries Paid To Employees 250000Rent and power 60000Mary’s salary 40000Superannuation to staff 85500Superannuation paid on behalf of Mary 25000Superannuation paid on behalf of Sally 25000Interest on bank overdrafts 18623Bad debts written Off & Paid 36849 Long Service Leave Amount Paid 13507
TAX305 Taxation Assignment_2
TAXATIONDepreciation of the 1st Purchased Item $16250Depreciation of the 2nd Purchased Item $14375Total Expenses (595104)Profit before Tax 1147896Mary BrownTaxable Income Statement For Year End 30th June 2017 $Revenue;Dividendsreceived7000ShareofPartnershipprofit573948GrossSalaryfrompart-timelecturing30000Salaryearnedfromworkingatpartnership40000InterestonBankDeposits5000RentalIncomeonInvestment10000GrossIncome665948Less Expenses Rates On Mentioned Invest 2000
TAX305 Taxation Assignment_3

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