he Ahram Company net income was 100,000 L.E. for the year ended on 31/12/2016. The examination of the income statement of this year revealed that the income statement included a deduction of the following a) The cost of computers that were purchased on 1/6/2016 for 15,000 b) Depreciation expense of 9,000 for furniture’s at a rate of 10% Required: Calculate Taxable net income and indicate the reasoning for your calculations for 2016. (Be careful, needs a bit of thought )
he Ahram Company net income was 100,000 L.E. for the year ended on 31/12/2016. The examination of the income statement of this year revealed that the income statement included a deduction of the following a) The cost of computers that were purchased on 1/6/2016 for 15,000 b) Depreciation expense of 9,000 for furniture’s at a rate of 10% Required: Calculate Taxable net income and indicate the reasoning for your calculations for 2016. (Be careful, needs a bit of thought )
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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V4. The Ahram Company net income was 100,000 L.E. for the year ended on 31/12/2016. The examination of the income statement of this year revealed that the income statement included a deduction of the following a) The cost of computers that were purchased on 1/6/2016 for 15,000 b) Depreciation expense of 9,000 for furniture’s at a rate of 10% Required: Calculate Taxable net income and indicate the reasoning for your calculations for 2016. (Be careful, needs a bit of thought )
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