Aylin Selin has a small shop selling clothes and shoes. Her commercial income in the year 2022 amounted to TL 300,000. She incurred the following expenses throughout the year. Rent Expense TL 60,000 Salaries Expense: TL 36,000 Tax Penalty: TL 2,000 Depreciation Expense of Office Furniture: TL 10,000 Cash withdrawal by the owner: TL 8,000 Compute her taxable income (tax base) and the amount of income tax to be paid for the year 2022.

Aylin Selin has a small shop selling clothes and shoes. Her commercial income in the year 2022 amounted to TL 300,000. She incurred the following expenses throughout the year. Rent Expense TL 60,000 Salaries Expense: TL 36,000 Tax Penalty: TL 2,000 Depreciation Expense of Office Furniture: TL 10,000 Cash withdrawal by the owner: TL 8,000 Compute her taxable income (tax base) and the amount of income tax to be paid for the year 2022.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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