Q.3 In the year 2013, PQR Corporation had the following items of income, expense, gains, and losses: (2 mark) Particular
Posted: Tue Apr 26, 2022 9:59 am
Q.3 In the year 2013, PQR Corporation had the following
items of income, expense, gains, and losses: (2 mark)
Particulars Amount in $
Sales 2,000,000
Account payable 600,000
Interest on savings
account 56,000
Plant & Machinery 600,000
Equipment 300,000
Operating
expenses
400,000
Furniture and Fixture
400,000
Gain on sale of AT&T
stock 24,000
Loss on sale of IBM
stock
60,000
Building
400,000
Motor vehicle
200,000
Cost of
sales
1,080,000
What is taxable income of PQR Corporation’s for the
year?
PLEASE NO HAND writing. Thank you.
items of income, expense, gains, and losses: (2 mark)
Particulars Amount in $
Sales 2,000,000
Account payable 600,000
Interest on savings
account 56,000
Plant & Machinery 600,000
Equipment 300,000
Operating
expenses
400,000
Furniture and Fixture
400,000
Gain on sale of AT&T
stock 24,000
Loss on sale of IBM
stock
60,000
Building
400,000
Motor vehicle
200,000
Cost of
sales
1,080,000
What is taxable income of PQR Corporation’s for the
year?
PLEASE NO HAND writing. Thank you.